According to CNN, there could stilll be a fiscal cliff deal made by the end of the year. However, given how things have unraveled in Washington last week, there’s also a chance the country could go over the cliff, at least for a period of time.
It seems that if decisions are not made soon, many taxpayers will be affected by these issues both in terms of additional withholding tax and the potential for the Alternative Minimum Tax. Stay tuned for further developements.
Tags: fiscal cliff
Written by: Doug Rodrigues