Fiscal Cliff Bill Makes Tax Reform Even More Likely in 2013By Christian Klein
Article Date: 02-01-2013
Copyright(C) 2013 Associated Equipment Distributors. All Rights Reserved.
The focus will shift to the business side of the tax debate, and for AED members that could be a good thing.
With the fiscal cliff drama behind us, many in the nation's capital are asking whether tax reform is still the top priority for the 113th Congress. It is. Here's why: The fiscal cliff bill (aka the American Taxpayer Relief Act or ATRA) permanently extended the 10, 25, 28 and 33 percent tax brackets for those earning up to $400,000 per year ($450,000 for joint filers). It also permanently extended capital gains rates (except for high earners), marriage penalty relief, child tax credits, exclusions for employerprovided educational assistance, student loan interest deductions, and Alternative Minimum Tax (AMT) relief.
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