Fiscal Cliff Bill Detail
The "American Taxpayer Relief Act of 2012" fiscal cliff bill, which extends the Bush Tax Cuts of 2001 & 2003 and the Obama Tax Cuts of 2009 for most taxpayers, was passed first by the Senate and then by the House January 1, 2013. President Obama has now signed the bill into law. Here is the full text of the fiscal cliff bill in all its glory, formally known as HR 8: American Taxpayer Relief Act of 2012 .
Here is a brief summary of the key tax provisions from the AICPA Journal of Accountancy: Congress passes fiscal cliff act
For an interesting story on the political intrigue surrounding the fiscal cliff deal see this article from Politico: The Fiscal Cliff Deal That Almost Wasn't.
Clare L Garner Jr CPA LLMT | 01/02/2013