Due Care Update: A Summary of the American Taxpayer Relief Act of 2012
January 9, 2013 |
Review the latest M Due Care Update published on behalf of M Financial and Sage Consulting. This issue features A Summary of the American Taxpayer Relief Act of 2012.
On January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012 (the Act). The legislation increases federal income tax rates on higher income Americans, preserves the unification of the federal gift and estate tax, extends unemployment benefits, and addresses a wide range of other tax and spending measures. In addition, the bill delays for two months the automatic spending cuts that were originally scheduled to take effect January 1, 2013.