Tax Breaks: What You’ll Keep–And Lose
(Wall Street Journal_ == Since the announcement of the deal by the White House and top Republicans to extend Bush-era tax cuts for two years and cut payroll taxes for one, taxpayers have been anxious to learn the fate of other tax breaks that have expired or are set to. Now there is news: The Senate bill released Thursday night reveals which “extenders,” as they are known, would be renewed and for how long. The Senate plans a vote on Monday, but it’s unclear when and what House members will do. “Even tax professionals are on the edge of their seats about the outcome of these provisions,” says Melissa Labant, a tax expert with the American Institute of CPAs.
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