Tax Calculator Updated with Fiscal Cliff Compromise
January 2, 2013
I've updated our online tax calculator to reflect the fiscal cliff compromise bill that passed the House last night and will presumably be signed by the President very soon. Three columns are shown – your 2012 tax liability, what you'll pay next year in 2013, and what you would have paid had we gone fully "over the cliff." Nearly everyone will see a slight increase from 2012 to 2013 because of the expiration of the payroll tax holiday, but everyone will pay less than they would have otherwise, had Congress done nothing.