General Explanation of Tax Legislation Enacted in the 106th Congress

• Author: Laffie, Lesli S.

The Joint Committee on Taxation released a General Explanation of Tax Legislation Enacted in the 106th Congress (JCS-2-01). The "Blue Book" is prepared so lawmakers, tax practitioners and other interested parties have explanations in one volume of the final tax legislation enacted.

The Blue Book is divided into nine parts, with each part addressing a specific piece of legislation. Part One explains the provisions of the Availability of Certain Tax Benefits for Services for Part of Operation Allied Force Act (P.L. 106-21), on the tax treatment of certain military personnel and civilian employees in the Federal Republic of Yugoslavia, Albania, the Adriatic Sea and the northern Ionian Sea above the 39th parallel. Part Two explains the revenue provisions of the Miscellaneous Trade and Technical Corrections Act of 1999 (P.L. 106-36), on the treatment of certain property subject to a liability. Part Three explains Title V of the Ticket to Work and Work Incentives Improvement Act of 1999 (P.L. 106-170), entitled the Tax Relief Extension Act of 1999.

The revenue provisions of the Trade...