The president’s State of the Union address on January 24, 2012, contained several tax mentions:
No details of proposals were mentioned. They should be included in the President’s 2013 budget, which will be sent to Congress in February.
A statutory method of depreciation allowing accelerated rates for most types of property used in business and income-producing activities during the years 1981 through 1986. It has been superseded by the modified accelerated cost recovery system (MACRS) for assets placed in service after 1986.