H.R. 1249: Tax Patent Ban

In a recent Tax Law Roundup article, Steven Schneider discusses how the Senate recently passed H.R. 1249, the America Invents Act, which would prohibit the patenting of tax strategies.  Mr. Schneider also discusses how the legislation would be effective upon enactment and would apply to any patent application pending, and any patent issued, on or after enactment.  It is reported that the patent office has issued over 150 tax strategy patents and that more than 160 such patents are pending.

See Steven Schneider, Senate Passes Tax Patent Ban - President Expected to Sign, TaxLawRoundUp.com, September 8, 2011.

Posted by William Alan Nelson II, Associate Editor, Wealth Strategies Journal