Sunday, January 8, 2012
Wall Street Journal Tax Report, The Road Ahead for Taxes, by Laura Saunders:
Anyone trying to do tax planning in the coming months will find it nearly impossible. "The combination of expiring tax cuts, deficit reduction needs, calls for tax reform and Congress's inability to find common ground on tough issues is producing a nearly intolerable level of uncertainty for taxpayers," says Clint Stretch, a principal with Deloitte Tax in Washington.
While the big questions remain unanswered, a number of smaller but definite tax changes are taking effect this year. There also are new rules to heed for the 2011 tax-filing season, which begins in a few weeks when companies start sending out W-2 tax forms. Here is a guide.