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Tax Tips & News: fiscal

IRS Commissioner: Refunds Could Be Delayed Until March Or Later

2 minutes read

IRS acting commissioner Steven T. Miller recently sent a letter to a Ranking Member of the House Committee on Ways and Means. In it he states that the Internal Revenue Service’s computer systems are programed to account for a AMT Patch like in years past. However, the AMT is scheduled to expire when the clock strikes midnight tonight. Without an AMT patch, not only would thousands of middle and lower income taxpayers see steep increases in their taxes, the IRS would have to reprogram their...

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Fiscal Cliff Or Not Workers Will Feel Immediate Pinch

2 minutes read

Less Money In Paychecks Regardless

Much has been debated about how long it will take for taxpayers to feel the affects of going over the Fiscal Cliff.  Yes, income tax rates could go up or down or popular deductions and credits limited or eliminated all together.  While these scenarios could take months or years to feel, the average worker is most likely going see less in their weekly paycheck as soon as the calendar flips to 2013.

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