Tax Law

Some Tax-Free Advice to Congress

An important and practical article in yesterday’s Wall Street Journal by Laura Saunders asks a fairly simple question: how are Treasury officials to come up with withholding rates for next year when thanks to Congressional inaction, they have no idea what the tax rates will be?

. . . .

. . . .

Should the Treasury issue withholding tables that reflect the expiration of all the “Bush tax cuts,” lower middle-class taxpayers could see their monthly take-home pay drop by $100 or more.

Should that happen, I think the odds of a significant backlash from regular taxpayers are pretty good. So, I have some tax-free advice for the U.S. Congress. Build a moat!

View TaxAnalysts' Christopher Bergin's opinion in its entirety on TAX.com

Discover the features and benefits of LexisNexis® Tax Center

 

For quality Tax & Accounting research resources, visit the LexisNexis® Store