Once in awhile, the federal government passes a law that just plain makes sense. And as the old saying goes: if it doesn’t make dollars, it doesn’t make sense. Well, the 2010 Tax Act, more formally known as the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 allows taxpayers to keep more money in their pockets, and that sure makes sense.

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This article is not a substitute for individualized legal advice. The information provided reflects the law as of the original publication date, February 1, 2015, and may no longer reflect current law. Please consult with a qualified attorney regarding your specific circumstances.