Frequently Asked Questions on the Expiring Bush-Era Tax Cuts
With the recently passed health care bill and billions of dollars in tax cuts set to expire in January if nothing is done, tax policy in Washington has been and will continue to be busy in 2010. With all of this action comes many questions about what is actually going on. This page is designed to “set the scene” for the general public, policymakers, and media with unbiased information relating to the current state of the federal tax system and what is set to happen. If you have any questions that are not answered, e-mail us and we will consider adding them to the list. (Note: We do not answer specific personal tax questions.)
To figure out how much your tax bill would change as a result of the Bush tax cuts expiring, use our calculator at www.mytaxburden.org.
10. Do you have a chart showing how the various scenarios (tax cuts expiring, tax Cuts extended, and Obama’s proposal) would affect key tax parameters like tax rates and brackets, the standard deduction, etc.?