Section 181 Passes Congress! (seriously)
Last night the House passed the Senate’s version of HR 4853. HR 4853 will be known more for extending the Bush tax cuts and unemployment, but like any true piece of US legislation, tucked deep within Section 744 of HR 4853 is an extension of Section 181 until Decemeber 31, 2011. All that is left is for President Obama to sign the Bill and it becomes law!
What a ride. Stay tuned for more updates and how the revived Section 181 will work with film and music video or television productions.
And it looks like the big tax extension bill has now been signed (http://news.yahoo.com/s/ap/us_tax_cuts). Long live Section 181! And thanks, Lawyer4Musicians (and independent filmmakers), for keeping us up to date through all the 181 drama this year.
It’s the: “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010” (http://www.whitehouse.gov/taxcut)