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State Income Tax
Stalemate in Congress makes tax planning nearly impossible

Here we are less than six months away from the "fiscal cliff" and Congress shows little sign of pulling the country back from the brink. The fiscal cliff is the result of the Bush-era tax cuts expiring at year's end combined with $1.2 trillion in mandatory federal spending reductions set to begin next year. If Congress doesn't act and lets these events unfold, economists say, the country will be thrown back into a recession. But, level-headed readers might ask, won't lawmakers rush to prevent this from happening? Yeah, right. These are some of the same politicians who brought the government to near default last summer, leading to a downgrade in the...

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