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Going Over the Fiscal Cliff: What it Means
The financial deadline looms in Washington, with no deal yet made. Check this primer, and share your questions and thoughts.
Debt
Monday, December 31, 2012
Sunday, December 30, 2012
Fiscal Cliff: What It Means For My 2013 Paycheck?
The financial deadline looms in Washington, with no deal yet made. Check this primer, and share your questions and thoughts.
With Christmas 2012 over, one reality check is that the looming "fiscal cliff" deadline is just a day away. On Dec. 31, tax cuts dating to the George W. Bush presidential term are scheduled to expire and President Obama and congressional leaders have not reached a compromise. Of course, that means tax bills would increase for many middle- and upper-class taxpayers. And that means paycheck withholding for many workers would change, leaving them with less take-home pay starting in the new year. Apparently, though, there will be no immediate change in withholding tables, while the situation is unresolved. According to John Tuzynski, the IRS’ chief of employment tax policy, employers should continue to use 2012 withholding tables and personal …
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Thursday, December 27, 2012
Patch, Starbucks Team to Avert Fiscal Cliff
The two companies have joined forces to urge Congress to “Come Together” before tax hikes and spending cuts push America over the “fiscal cliff.”
On any given day, Roswell and Washington, D.C., might seem like they’re a million miles apart. Today is not one of those days. As Congress and President Barack Obama attempt to hash out differences to stop America from falling over the “Fiscal Cliff,” Patch and Starbucks are teaming up to urge Republicans and Democrats to “come together.” The two companies are working together to make sure Congress gets the message America wants a viable solution to the country’s financial woes. The so-called Fiscal Cliff encompasses all of the budget cuts and tax hikes that will automatically kick in if Congress doesn’t take action before Jan. 1, 2013. Some economists say the automatic changes will push the country into another recession. The White House …
