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Various sources have estimated the impact on taxpayers from the tax increases that would have occurred if the Bush income tax cuts and the Obama payroll tax cut had been allowed to expire with the fiscal cliff. The table below shows the dollar and percentage increase in income taxes for the 2013 tax year, if the fiscal cliff had taken effect. [51]
By Jeanne Sahadi NEW YORK -- If lawmakers cannot agree on how to address the pending "fiscal cliff," $7 trillion worth of tax increases and spending cuts will begin to go into effect in January.
Three CBO deficit scenarios related to the American Taxpayer Relief Act of 2012 (ATRA) and the Fiscal Cliff. The blue line (August 2012 baseline) was the "current law" baseline, with tax increases and spending cuts that would take effect if laws were not changed.
The Canadian federal budget for the fiscal years of 2022–23 was presented to the House of Commons by ... Canada's debt-to-GDP ratio ... Tax revenues 350.67 ...
By Caroline Valetkevitch NEW YORK -- Investors typically sell stocks to cut their losses at year end. But worries about the "fiscal cliff" -- and the possibility of higher taxes in 2013 -- may act ...
Canadian Prime Minister Justin Trudeau's government will outline limited new spending in a fiscal update to be released later this month, a source said on Thursday, as inflation soars and some ...
Income taxes in Canada constitute the majority of the annual revenues of the Government of Canada, and of the governments of the Provinces of Canada. In the fiscal year ending March 31, 2018, the federal government collected just over three times more revenue from personal income taxes than it did from corporate income taxes .
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