Investors Get an Extension--And a New Roth IRA Opportunity

    May seems to be the traditional month in Washington for tax cuts and May 2006 was no different from past years with Congress passing a $70 billion tax cut package, the Tax Increase Prevention and Reconciliation Act of 2005.

    Although one tax incentive—extending the dividend and capital gains tax rate cuts for two more years—has received the most press coverage, the new law includes many other important tax breaks that could help reduce your tax liability this year and in future years. Some of the important incentives in the new tax law are highlighted below.

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