Free Republic
Browse · Search
General/Chat
Topics · Post Article

To: LadyBuzz

This doesn’t make sense. The tax law they passed on January 1 didn’t apply to 2012, it applied to 2013.

I guess they must have done something that also applied to 2012, that didn’t get clearly communicated.


9 posted on 01/08/2013 7:36:03 PM PST by CharlesWayneCT
[ Post Reply | Private Reply | To 1 | View Replies ]


To: CharlesWayneCT

The taxes they just raised, perhaps? (wow. that would suuuuuck.)


12 posted on 01/08/2013 7:56:16 PM PST by KGeorge
[ Post Reply | Private Reply | To 9 | View Replies ]

To: CharlesWayneCT
I guess they must have done something that also applied to 2012, that didn’t get clearly communicated.

Yes, that is exactly it. The AMT patch was part of the fiscal BS bill. The AMT, when originally passed, set the application threshold in the area of $37k. It has never been adjusted for inflation or increasing wages - they just pass a patch each year to push up the point where it kicks in. Absent this patch, nearly all of us would have fallen in the AMT trap this year.

Just another reason that demonstrates how convoluted and complete BS our tax code is.

14 posted on 01/08/2013 8:17:31 PM PST by RobertClark (It's 106 miles to Chicago, we got a full tank of gas, half a pack of cigarettes, it's dark and we'r)
[ Post Reply | Private Reply | To 9 | View Replies ]

Free Republic
Browse · Search
General/Chat
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson