Monday, 7th May 2012

Sunset of 2001 & 2003 Tax Cuts and Benefits

Source: CCH/Wolters Kluwer

From the press release:

Will this be the last year of the Bush-era tax cuts? For now, uncertainty remains over whether Congress will extend all or some of the tax cuts and incentives set to expire at the end of the year. CCH has issued a new Tax Briefing looking at sunsetting tax benefits and what taxpayers should know when planning for next year. ...

"The decision is more complicated this time around because of mandatory reductions in federal spending that were introduced in the Budget Control Act of 2011," said CCH Principal Federal Tax Analyst Mark Luscombe, JD, LLM, CPA. "When you combine all that with a still-recovering economy and a Congress that has difficulty seeing eye-to-eye on tax legislation, it’s easy to see why people are using terms such as ‘fiscal cliff’ and ‘taxmageddon’ to describe what the impact could be from the expiration of numerous tax breaks, as well as implementation of automatic spending cuts."

+ Link to full report (PDF; 549 KB)

Category:

• Business and economics (DocuTicker)
• Government and politics (DocuTicker)
• Investments (DocuTicker)
• Taxation (DocuTicker)

Source:

• CCH/Wolters Kluwer

Views: 1092

By Peggy Garvin

Peggy Garvin, of Garvin Information Consulting, is the author of United States Government Internet Directory (Bernan Press) and Real World Research Skills, 2009 (TheCapitol.Net). In her 20 years in the information business, Peggy has managed electronic information products and services in a variety of environments, including commercial publishing, e-commerce, law firms, and the Congressional Research Service of the Library of Congress. Peggy's work has been recognized with the 2011 SLA Dow Jones Leadership Award. She has a Masters of Library Science degree from Syracuse University School of Information Studies.

More articles by Peggy Garvin »

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