Fiscal Cliff Archives - Federal Direct Tax https://www.federaldirecttax.com/blog/tag/fiscal-cliff/ Helping Individuals & Businesses Enter The Tax Preparation Industry Mon, 03 Dec 2012 15:15:36 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 Gov. Attempting to Pass a Tax Cut Extension Bill https://www.federaldirecttax.com/blog/gov-attempting-to-pass-a-tax-cut-extension-bill/ Mon, 03 Dec 2012 15:15:36 +0000 http://www.federaldirecttax.com/blog/?p=1234 House Minority Leader Nancy Pelosi has recently said she would try a “discharge petition” to bring to the floor of the House of Representatives a Senate-passed bill that would extend tax cuts for the middle class, those who earn less than 250 thousand. Requiring 218 signatures to bring it to the floor, the discharge petition […]

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]]> Fiscal Cliff & Taxmageddon or Fear Mongering? Probably the Latter… https://www.federaldirecttax.com/blog/fiscal-cliff-taxmageddon-or-fear-mongering-probably-the-latter/ Thu, 01 Nov 2012 14:45:59 +0000 http://www.federaldirecttax.com/blog/?p=1186 A couple of weeks ago we wrote about the “Fiscal Cliff”, tax provisions set to expire at the end of 2011, and, as of right now, they are not applicable to 2012 Federal returns. With the upcoming presidential election, congress still has no plan to act on extending the Bush era tax cuts. Each presidential […]

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]]> Fiscal Cliff & “Taxmageddon” Approach with Expiring Tax Credits https://www.federaldirecttax.com/blog/fiscal-cliff-taxmageddon-approach-with-expiring-tax-credits/ Thu, 25 Oct 2012 20:19:49 +0000 http://www.federaldirecttax.com/blog/?p=1172 There are more than 30 different tax breaks set to expire at the end of 2012. Nearly everyone will be effected if the credits are not renewed. If the credits are not renewed everyone will pay more income taxes, and workers will bring home a little less money in each paycheck. Groups that will be […]

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