There seem to be lots of questions flying around about the new “Small Business and Work Opportunity Tax Act of 2007,” which was signed into law recently by President Bush. It’s part of the much larger “U.S. Troop Readiness, Veterans’ Care, Katrina Recovery, and Iraq Accountability Appropriations Act of 2007.”

According to CCH, the new tax law “targets nearly $5 billion in tax incentives principally to small businesses but also to some larger ones. It also includes tax incentives to help businesses recovering from Hurricane Katrina, as well as an important package of S corporation incentives.”

CCH offers complete coverage of the new law, including a case-by-case look at the major highlights of the legislative package.