This is the week for the tax extenders

Tax Notes Today ($) reports this morning that Congress is expected to wrap up its work this week. The continuing resolution funding the government expires on December 8; rather than try to finish the appropriations bills before the holiday, the Republicans are expected to punt the job to January, to the next Congress.

A new extenders bill needs to be introduced and passed in the House, before going on to the Senate. Favored provisions will get just two years of life, that is, retroactively for 2006 and ahead for only 2007. Some trade and health-related provisions may be included in the bill as well.

As to the Alternative Minimum Tax for next year, the silence is deafening, in contrast to last year at this time.