[lord007]

Originally Posted by Danzig

tax brackets remain in place thru this year, but if no adjustments are made, all brackets revert to what they were in 2000. which means a big increase. oh, and look what 2013 isn't-an election year.

then there's the alternative minimum tax:


More AMT victims, higher taxes
On today's tax returns, when an AMT payment is required, affected taxpayers could end up paying thousands more in taxes. Absent any law change, by 2015, some estimates predict that nearly 50 million filers could end up paying this parallel levy.

Why the increase? Because the tax is not indexed for inflation. Without that annual adjustment, your yearly raises of a few percentage points have been moving you closer or even into the income realm that the tax law deemed almost 40 years ago as prime AMT bait.

You could owe AMT if your taxable income in 2010 was more than:
•$72,450 for a married couple filing a joint return and surviving spouses.
•$47,450 for singles and heads of household.
•$36,225 for a married person filing separately.
Congress regularly bumps up the earnings amounts to keep more middle-income filers from paying more under the system. While that law change helps out millions of taxpayers who might otherwise pay the AMT, the uncertainty of when and how much relief will be provided is a constant area of frustration for taxpayers who have encountered or might face the alternative minimum tax.

http://news.investors.com/Article/59...back-taxes.htm...speaking of taxes