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An act to extend certain tax relief provisions enacted in 2001 and 2003, and to provide for expedited consideration of a bill providing for comprehensive tax reform, and for other purposes. Acronyms (colloquial) ATRA: Enacted by: the 112th United States Congress: Effective: January 1, 2013: Citations; Public law: Pub. L. 112–240 (text ...
By Bonnie Lee Happy New Year! I don't know what you did on New Year's Eve, but we all know what Congress did: they finally hammered down some tax legislation for 2013 and beyond. These last ...
The payroll tax cap increased by $3,600, from $110,100 in 2012 to $113,700 in 2013. Workers who earn more than this threshold don't need to pay Social Security taxes on that income. 3.
If keeping up with tax changes in the law were a sport, 2017 and 2025 might be considered the Tax Olympics. Recall that during the first year of President-elect Donald Trump’s first term ...
Changes in revenues primarily represent a return to the long-run average. Tax revenues historically have averaged around 18% GDP. The subprime mortgage crisis resulted in significant declines in revenues, with revenue falling to a record low 15% GDP. President Obama's budget preserves the Bush income tax cuts for couples earning below $250,000 ...
For example, for taxable years 2012 and 2013, the Virgin Islands had a 2.7% "add-on" when its tax rate on total wages was below a national minimum. For taxable year 2014, Connecticut had a "BCR add-on" when its tax rate on the taxable portion of covered wages in the previous calendar year was less than the 5-year benefit–cost ratio applicable ...
Last year, Kansas passed a law that took effect this year, reducing the top tax bracket from 6.45 percent to 4.9 percent. It also eliminated income taxes on small business income for hundreds of ...
The Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018, [2] Pub. L. 115–97 (text), is a congressional revenue act of the United States originally introduced in Congress as the Tax Cuts and Jobs Act (TCJA), [3] [4] that amended the Internal Revenue Code of 1986.