CCH TAX NEWS for February 5, 2008

CCH TAX NEWS for February 5, 2008

FEDERAL NEWS

President Submits $3 Trillion Budget Containing $145 Billion Economic

Stimulus Proposal

Senate Agrees to Limit Debate on Stimulus Bill Treasury's "Blue Book" General Explanations of Administration's FY

2009

Revenue Proposals Address AMT, Expiring Provisions and Health Insurance

Decedents' Loan Interests Did Not Qualify for QFOBI Deductions (D.

Farnam Est., TC)

STATE NEWS

Kansas --Personal Income Tax: Retaliatory Addback Provision Passes

House

Virginia --Corporate, Personal Income Taxes: IRC Conformity Legislation

Enacted

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