Less than 25 hrs left and Congress has yet to come to a agreement in regards to this whole Fiscal Cliff situation. What does this actually mean to the average middle class Americans such as you and I? According to CNN reports:… immediately pay checks will decrease because the 2% payroll tax holiday is expiring. some services may cease such as unemployment, not to mention…
Your 2012 tax returns may also be affected!!!!:” Here’s where things potentially become a dumb mess. The IRS warned lawmakers that if they don’t act to protect the middle class from having to pay the Alternative Minimum Tax for tax year 2012 by Dec. 31, up to 100 million taxpayers may not be able to file their 2012 taxes until late March. That would mean their refunds will be delayed. And they wouldn’t be injecting those refunds into the economy during the first quarter”…Read Full from CNN Story:
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- What if there’s no deal on fiscal cliff? (fox6now.com)
- 10 Ways Going Over The Cliff WIll Hurt More Than You Thought (huffingtonpost.com)
- What happens to you if we go over the fiscal cliff (nbcnews.com)
- What If There’s No Deal (money.cnn.com)
- What Happens If There’s No Fiscal Cliff Compromise (on.aol.com)
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