The American Taxpayer Relief Act of 2012

| Alerding Alerts

Over the New Year Holiday, Congress passed The American Taxpayer Relief Act of 2012. The new tax law extends several tax cuts for individuals and businesses; however, it also allows for tax rates to increase and some deductions to decrease for the nation’s "high income" earners. Most of the provisions will be adjusted for inflation in future tax years. Individual Tax Provisions Top individual marginal tax rate increases to 39.6% (from 35%) for married couples earning $450,000 and single taxpayers Read more [...]