January 2013

Tax & Business Planning Alert:

Congress Approves the American Taxpayer Relief Act of 2012, Preventing "Fiscal Cliff"

In this Tax and Business Planning alert, we cover key provisions of the American Taxpayer Relief Act of 2012 (the "Act"), which President Obama signed into law on January 2, 2013, permanently extending the current tax rates for individuals earning up to $400,000 (joint filers earning up to $450,000), and which postpones automatic, across-the-board spending cuts for two months. The Act affects several other tax provisions for individuals, businesses, and estates.

In this issue, we discuss the following provisions of the Act:

• Major Tax Provisions Affecting Individuals
• Major Tax Provisions Affecting Businesses
• Major Tax Provisions Relating to Federal Estate, Gift, and Generation-Skipping Taxes

Click here to learn more.

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