Did the Government really impose 0% long term cap gains taxes til 2010 or is it just a rumor!?
Best Answer
2222 points
readytoretire answered 10 months ago …
A review of the text (as it currently stands-only congress can pass a bill and then change it by admin means to make it what they meant) http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&a mp;docid=f:h1eas.txt.pdf
did not reveal anything like that. The closest I found was a curious section on page 485 that allows corporations that are changing from C to S to not have to pay taxes on built-in gain (the IRS wants their part for 10 years after changing from a C to a S) that they would normally have to show for this year or next year. I say curious because it only applies to companies that are in their 8th year. Makes you think that somewhere someone is saying thanks and I will donate again next time.
So the answer is no.
