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Author : Mindy R. Levit
Publisher :
ISBN 13 :
Total Pages : 15 pages
Book Rating : 4.30/5 ( download)
Download or read book The "fiscal Cliff" and the American Taxpayer Relief Act of 2012 written by Mindy R. Levit and published by . This book was released on 2013 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : 112th United States Congress
Publisher :
ISBN 13 : 9781481900584
Total Pages : 86 pages
Book Rating : 4.87/5 ( download)
Download or read book The American Taxpayer Relief Act Of 2012 written by 112th United States Congress and published by . This book was released on 2013-01-03 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: The American Taxpayer Relief Act of 2012 (H.R. 8) passed by the United States Congress on January 1, 2013 centers on a partial resolution to the United States fiscal cliff by addressing the expiration of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, as well as the activation of the budget sequestration provisions of the Budget Control Act of 2011.The American Taxpayer Relief Act allows the Bush-era tax rates to sunset after 2012 for individuals with incomes over $400,000 and families with incomes over $450,000; permanently "patches" the alternative minimum tax (AMT); revives many now-expired tax extenders, including the research tax credit and the American Opportunity Tax Credit; and provides for a maximum estate tax of 40 percent with a $5 million exclusion. The Act also delays the mandatory across-the-board spending cuts known as sequestration.
Author : Margot L. Crandall-hollick
Publisher : Createspace Independent Pub
ISBN 13 : 9781482527551
Total Pages : 36 pages
Book Rating : 4.53/5 ( download)
Download or read book An Overview of the Tax Provisions in the American Taxpayer Relief Act Of 2012 written by Margot L. Crandall-hollick and published by Createspace Independent Pub. This book was released on 2013-02-12 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: On December 31, 2012, a variety of temporary tax provisions which were part of the “fiscal cliff” expired. Two days later, the American Taxpayer Relief Act of 2012 (ATRA; P.L. 112-240) retroactively extended, and in certain cases modified, many of these provisions. The short time period between the expiration of these provisions and the enactment on January 2 of ATRA retroactively meant that from the perspective of all but upper-income taxpayers, income taxes remained unchanged between 2012 and 2013 (i.e., the amount of income tax withheld from their paycheck and the availability of certain tax deductions, credits, and exclusions remained unchanged). This report provides an overview of the tax provisions (Titles I-IV and Title X of P.L. 112-240) included in the “fiscal cliff deal,” including: the permanent extension and modification of the 2001 and 2003 tax cuts, often referred to collectively as the “Bush-era tax cuts”; the temporary extension of certain tax provisions originally included as part of the American Recovery and Reinvestment Act (ARRA; P.L. 111-5), often referred to as the “2009 tax cuts”; the permanent extension of the alternative minimum tax (AMT) patch; the temporary extension of a variety of other temporary expiring provisions for individuals, businesses, and energy often referred to as “tax extenders”; and the expansion of in-plan conversions of traditional employer-sponsored retirement accounts (like 401(k) plans) to employer-sponsored Roth accounts (like Roth 401(k) plans). ATRA did not extend the payroll tax cut. The payroll tax cut—temporarily enacted for 2011 and 2012—reduced Social Security taxes from 6.2% to 4.2% for employees and from 12.4% to 10.4% for the self-employed on the first $110,100 of wages in 2012. In addition, P.L. 112-240 did not change another component of the fiscal cliff, namely new taxes primarily related to Medicare and enacted as part of the Affordable Care Act (ACA; P.L. 111-148, as amended), which went into effect at the beginning of 2013. The Joint Committee on Taxation (JCT) estimates that the tax provisions of ATRA (Titles I-IV and Title X) would reduce revenues by $3.9 trillion over the 10-year budgetary window from 2013 to 2022 in comparison to the official current law baseline. (The official current law baseline was an estimate of future revenue if all temporary tax provisions had expired as originally scheduled.) Of this $3.9 trillion, $1.5 trillion (39%) is a result of permanently extending certain income tax provisions of the 2001 and 2003 tax cuts, $369.1 billion (9%) is a result of permanently extending and modifying estate tax provisions, $134.2 billion (3%) is a result of temporarily extending 2009 tax cut provisions, $1.8 trillion (46%) is a result of permanently extending the AMT patch, and $76.3 billion (2%) is a result of temporarily extending certain temporary expiring provisions and “tax extenders.” In contrast, using a current policy baseline which estimates future revenues if all temporary tax provisions (excluding the payroll tax cut) had been extended, the Administration has stated that these tax provisions would raise revenues by $618 billion. ATRA includes other non-tax provisions, including those related to budget sequestration, emergency unemployment benefits, and Medicare.
Author : Filip Svensson
Publisher : Nova Science Publishers
ISBN 13 : 9781628080278
Total Pages : 0 pages
Book Rating : 4.72/5 ( download)
Download or read book American Taxpayer Relief Act Of 2012 written by Filip Svensson and published by Nova Science Publishers. This book was released on 2013-07 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: On 31 December 2012, a variety of temporary tax provisions that were part of the "fiscal cliff" expired. Two days later, the American Taxpayer Relief Act of 2012 (ATRA) retroactively extended, and in certain cases modified, many of these provisions. The short period between the expiration of these provisions and the enactment on January 2 of ATRA retroactively meant that from the perspective of all but upper-income taxpayers, income taxes remained unchanged between 2012 and 2013. This book provides an overview of the tax provisions included in the "fiscal cliff deal", including: the permanent extension and modification of the 2001 and 2003 tax cuts ("Bush-era tax cuts"); the temporary extension of certain tax provisions originally included as part of the American Recovery and Reinvestment Act (ARRA); the permanent extension of the alternative minimum tax (AMT) patch; the temporary extension of a variety of other temporary expiring provisions for individuals, businesses, and energy often referred to as "tax extenders"; and the expansion of in-plan conversions of traditional employer-sponsored retirement accounts (like 401(k) plans) to employer-sponsored Roth Accounts.
Author : CCH Tax Law Editors
Publisher : CCH Incorporated
ISBN 13 : 9780808035534
Total Pages : 0 pages
Book Rating : 4.33/5 ( download)
Download or read book 2012 Tax Legislation written by CCH Tax Law Editors and published by CCH Incorporated. This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: CCH's American Taxpayer Relief Act of 2012: Law, Explanation and Analysis provides tax professionals with a single integrated reference source covering all aspects of this important legislation. Along with the impacted Internal Revenue Code provisions, CCH editors, together with leading tax practitioners and commentators, have created a complete practical analysis. The American Taxpayer Relief Act allows the Bush-era tax rates to sunset after 2012 for individuals with incomes over $400,000 and families with incomes over $450,000; permanently patches the alternative minimum tax (AMT); revives many now-expired tax extenders, including the research tax credit and the American Opportunity Tax Credit; and provides for a maximum estate tax of 40 percent with a $5 million exclusion. The bill also delays the mandatory across-the-board spending cuts known as sequestration. Highlights of the American Taxpayer Relief Act of 2012 include: -- 39.6% tax rate for incomes above $400,000 ($450,000 for joint filers) -- All other Bush-era tax rates extended -- 20% maximum capital gains tax rate -- Permanent AMT patch -- Five-year extension of American Opportunity Tax Credit -- One-year extension of business tax extenders The law is arranged in Code section sequence. CCH also provides several special tables and lists to facilitate quick and thorough understanding of the law and how it would affect taxpayers. Features include an effective dates table organized by Code section, a listing by Code section of the Act sections affecting it, and a listing by Act section of the Code sections affected. CCH's Law, Explanation and Analysis book is the resource that tax professionals, businesses, government staff and students alike need to get all the details of and help on new tax legislation changes. CCH provides the critical, late-breaking explanation and analysis to help readers make sense of complex legislative change so they can plan, respond and advise with confidence.
Author : Margot L. Crandall-Hollick
Publisher :
ISBN 13 : 9781457843563
Total Pages : 33 pages
Book Rating : 4.60/5 ( download)
Download or read book Oveview of the Tax Provisions in the American Taxpayer Relief Act Of 2012 written by Margot L. Crandall-Hollick and published by . This book was released on 2013-03-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John A. Miller
Publisher :
ISBN 13 :
Total Pages : 640 pages
Book Rating : 4.41/5 ( download)
Download or read book The Fundamentals of Federal Taxation written by John A. Miller and published by . This book was released on 2010 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt: The third edition of The Fundamentals of Federal Taxation is a problem-based, transaction-oriented treatment of the basics of federal taxation. It features a balanced approach toward tax planning and tax policy and is structured for easy accessibility through the use of forty-two chapters, each of which can readily be covered in one, or occasionally two, class sessions. A new chapter in this edition brings together the various exclusions, deductions and credits concerning education. This is a topic of particular relevance to students that often receives scattered treatment in other books. Thoroughly up to date, this edition incorporates the changes arising from the American Taxpayer Relief Act of 2012, the so-called ¿fiscal cliff¿ legislation. The authors also prepare an annual supplement each August. The first half of the book provides students with an understanding of the overall structure of the federal income tax. This part culminates in two major review problems that assist students in integrating the knowledge gained. Thereafter, the book covers various major topics of taxation¿including real estate taxation, intellectual property taxation, family taxation, tax consequences of litigation, and deferred compensation -- with an emphasis on tax planning. It is designed to give students an appreciation for how the law of taxation connects with everyday events of American life. The book also contains chapters on corporate and partnership income taxation, international income taxation and the federal wealth transfer taxes in order to introduce students to those important areas of tax law. In this cogent, straightforward treatment of a complex subject, the topics, the selection of cases, and the design of the problems are all calculated to make tax fun and thought-provoking. This edition is available in both hard copy and electronic versions. A teacher¿s manual with complete solutions to all of the problems is available.
Author : Stephen J. Feinberg
Publisher : iUniverse
ISBN 13 : 1475975910
Total Pages : 205 pages
Book Rating : 4.18/5 ( download)
Download or read book Perpetuating American Greatness After the Fiscal Cliff written by Stephen J. Feinberg and published by iUniverse. This book was released on 2013-02 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: The federal government has failed to adequately regulate free market capitalism in the United States. Understanding how we got to this point is the first step in figuring out how to fix the economy. It is still possible to help the forgotten middle class, create jobs, and provide mortgage relief to hardworking homeowners. In this guidebook to perpetuating American greatness, Stephen J. Feinberg introduces Jump Start America Bonds to encourage cash-rich businesses and individuals to invest in transportation infrastructure construction projects to create jobs. He proposes a US mortgage court to oversee the restructuring of home mortgages on terms that would give relief to homeowners and end the housing crisis. He also explores other key issues, such as the federal deficit, income and estate tax fairness, and ways to better regulate banks and the securities markets. Throughout his study, Feinberg seeks to help America recover by providing a concrete plan to reverse the economic decline and return the country to economic greatness once again.
Author : Stewart H. Welch, III
Publisher : John Wiley & Sons
ISBN 13 : 1118930002
Total Pages : 320 pages
Book Rating : 4.07/5 ( download)
Download or read book JK Lasser's New Rules for Estate, Retirement, and Tax Planning written by Stewart H. Welch, III and published by John Wiley & Sons. This book was released on 2014-09-19 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Current, relevant estate, retirement and tax planning strategies with expert insight and advice JK Lasser's New Rules for Estate, Retirement and Tax Planning is the authoritative guide to estate, retirement and tax planning, fully updated to reflect new changes and legal updates. Written by some of the most recognized experts in the field, this book offers useful planning advice for people of various ages and income levels, including information on retirement planning, trusts, charitable contributions, gifts, life insurance, and wills. In this guide, you'll find up-to-the-minute facts, valuable insight, and solid strategies to help you preserve your wealth and plan your estate under current tax rules. The helpful companion website provides spreadsheets, tools, and additional reading to help you get organized, while the book's expert guidance provides the background information you need to prepare properly. Estate planning is a complex topic, made even more complex by constantly changing laws. Failing to plan properly can result in your loved ones losing out on much of your hard-earned assets, and researching the topic on your own can be a minefield of assumptions, misunderstandings, and potential legal consequences. New Rules for Estate, Retirement and Tax Planning helps you sidestep the confusion, distilling the information down to what's relevant and current. This practical resource covers a wealth of important issues, including: Estate planning, taxation, and investing for maximum growth The role of wills, executors, and trusts, and how to treat charitable contributions Life insurance, retirement planning, Social Security claiming strategies and the do's and don'ts of gifting Business planning, including succession, asset protection, and family limited partnerships You've worked hard your entire life. You managed to accumulate assets. New Rules for Estate, Retirement and Tax Planning will help you maximize the transfer of your assets to the people and charities you love rather than the federal government in the form of taxes.
Author : Mel Gable
Publisher : WestBow Press
ISBN 13 : 1490804455
Total Pages : 131 pages
Book Rating : 4.53/5 ( download)
Download or read book Heavenly Signs III written by Mel Gable and published by WestBow Press. This book was released on 2013-08 with total page 131 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Is it man's doing and God's will that the United States of America is doomed to fall? There are significant historical events that have caused the current conditions in this country. The eagle has risen' and the eagle falls' echo how far society has come and beg theses questions: Have we been here before? Does history repeat itself? Where is America heading, and is the world following suit? This third book in the Heavenly Signs series is entitled US Eagle Falls. Author Mel Gable researches the components that are playing into this scenario and again studies the heavenly signs to answer these questions. It will be very clear to us if we keep looking up. Are you well-versed in what is happening today? Mel Gable explains in an orderly fashion the connections among science, the Bible, and history and masterfully shares his insights to enlighten us, the readers. Even though wickedness abounds, the author makes it clear that the Master Planner is in control and that His perfect plan will come to fruition. We need to place our faith and trust in our all-knowing God." Yolanda Shirley
