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Subject:  Fiscal Cliff Tax Changes Date:  1/1/2013  5:52 PM
Author:  pauleckler Number:  71173 of 88049

The best summary I have seen of the new tax compromise passed by the US Senate and now pending in the house is here--

>Dividends and Capital gains stay at 15% for most of us, but go to 20% for incomes over $400k single/$450k married permanently.

>Estate tax to 40% for amounts over $5mm single or $10mm family permanently.

>AMT indexed to inflation permanently

>Extends unemployment, the farm bill, delays fiscal cliff spending cuts and Medicare payment cuts to physicians

>No action on the temp reduction in withholding or the debt ceiling. Republicans still want more cost cutting.

I saw an AP story indicating changes in the rules for conversion of IRAs to a Roth, but search turned up no details.
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