In the aftermath of the elections, the payroll tax cut appears to be one of the likely casualties of the scramble to resolve questions over expiring tax cuts and the looming fiscal cliff during the lame-duck session of Congress.
“There are a few things we can glean from last night,” said Paul Dillon, director of tax services at Baker Tilly Virchow Krause, in an interview Wednesday after the election. “Even before knowing the election results, there didn’t seem to be any support on either side of the aisle for extending the payroll tax cut. We know that’s going to expire at the end of the year.”
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access