Posts tagged as:

payroll tax

9 Things to Know About the Making Work Pay Credit and Payroll Tax Cuts

4 January 2012

My inbox continues to be chock full of questions about the Making Work Pay Credit for 2011. Taxpayers, it seems, are still confused about whether the credit was extended and how it relates to the payroll tax cuts. So let me see if I can set the record straight for you: The Making Work Pay [...]

0 comments Read the full article →

What You Can Buy With Your Payroll Tax Cut From Congress

25 December 2011

After all of the drama, Congress managed to push through a payroll tax cut extension just before the holidays. The payroll tax cut was extended for two months, saving the average taxpayer a grand total of $166. These days, that won’t get you very far. Depending on where you live, it works out to: 43 [...]

0 comments Read the full article →

Payroll Tax Cut Bill Includes New ‘Recapture’ Tax for the Wealthy

23 December 2011

So now that the payroll tax cut has been extended for two months, what does that mean for taxpayers? Well, even though the collective wisdom is that Congress will hammer out a longer term deal, the IRS gets to play a game of “let’s put a bunch of provisions in place within the space of [...]

0 comments Read the full article →

Boehner Claims Compromise on Payroll Tax Cut Extension

22 December 2011

As if we didn’t need further evidence that Congress is phoning it in these days … House Speaker Boehner (R-OH) backtracked Thursday afternoon and announced a “compromise” two-month extension of the payroll tax cut, two days after the House voted to reject it. Let me break this down for you. First, to the average taxpayer, [...]

0 comments Read the full article →

Congress to Taxpayers: We Give Up

21 December 2011

For the second time in so many months (remember the debt ceiling deadline debacle?), Congress has thrown up its hands and walked away. After failing to reach a workable compromise on the payroll tax cut extension, members of the House left town for the holidays. The payroll tax cuts are set to expire before the [...]

0 comments Read the full article →

Reid Holds Up Discussions On Payroll Tax Cut Extension

19 December 2011

I was hoping to report that the Senate had taken up the payroll tax cut extension issue today and tossed out the ridiculous plan hatched last week for a two month extension. But, no. Sen. Majority Leader Harry Reid (D-NV) has indicated that the Senate will not take up the matter until the House passes [...]

0 comments Read the full article →

Boehner Pushes for One Year Extension on Payroll Tax Cuts

18 December 2011

It’s not often that you’ll see me lauding House Speaker [entity display="John Boehner" type="person" active="true" key="john-boehner"]John Boehner[/entity] (R-OH) as the voice of reason but here it is: the man is one of just a handful in Congress making some sense with respect to these payroll tax cuts. Speaker Boehner is pushing for a full year [...]

0 comments Read the full article →

When Dumb Meets Stupid: Payroll Tax Cut ‘Compromise’

16 December 2011

So months and months of debate on the payroll tax cut has resulted in this: a two month extension. No, you didn’t read that wrong. Two months. Democrats and Republicans in the Senate couldn’t figure out how to pay for the whole thing so they decided on a ridiculous fix. Two months. “But it’s paid [...]

0 comments Read the full article →

Shutdown Looms, Payroll Tax Cut Extension Still Not Approved

15 December 2011

The “naughty” list is getting longer… No, I’m not talking about Amy pinching her brother this morning while getting ready for school. I’m talking about those in Congress who are squabbling over the payroll tax cut extension all while the deadline for keeping the lights on in D.C. creeps closer. The Senate has yet to [...]

0 comments Read the full article →

Payroll Tax Cuts Extension Part of Kitchen Sink Bill

13 December 2011

The House of Representatives has passed a version of a plan that would extend the payroll tax cuts enacted for 2011. The plan also includes the acceleration of approval of the Keystone XL oil pipeline. The bill, H.R. 3630, was originally known as the Welfare Integrity and Data Improvement Act (yup, not a word about [...]

0 comments Read the full article →

← Previous Entries