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Tax Changes in Congress’ Fiscal Cliff Legislation
Here is a summary of the provisions included in the bill – Tax rates beginning January 1, 2013 A top rate of 39.6% (up from 35%) will be imposed on individuals making more than $400,000 a year, $425,000 for head of household, and $450,000 for married filing joint. 2% Social Security reduction gone AMT permanently
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