Obama strikes tentative deal to extend tax cuts, unemployment compensation
President Barack Obama announced on Monday a compromise with Republican congressional leaders to extend the Bush-era income tax rates for all taxpayers for two years, extend unemployment compensation for thirteen months, and cut payroll taxes for one year.
- tuition tax credits for some families
- the refundable child care tax credit
- the 15 percent tax rate on most capital gains and dividends
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.