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Bush Tax Cuts expiring

Submitted by james300@comcast.net on 1 June 2012 - 2:17pm

A recent email from Larry, 26May12, stated that the current version, 2.20.42, assumes that the Bush tax cuts will NOT expire on Jan 1 2013. He suggested that to model the expiration of the Bush tax cuts you should specify, under Assumptions, an increase in federal income tax rates. As usual, the devil is in the details. Since we don't have access to modify the actual tax tables, How do we do what Larry suggested? As I understand, changing the Assumptions tax percentage at a future date simply increases or decreases the calculated taxes by the entered percentage. The complexity of our terrible tax code makes it impossible to pick a tax increase percentage to entery in Assumptions that would even come close to the actual taxes if the Bush tax cuts were to end.
Help!
Thanks
James

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Submitted by Mike OConnor on 2 June 2012 - 9:16am.
1

James,
We have a Beta version with the Bush tax cuts expiring.
If you'd like to use it, please open a support ticket and we'll attach it for download.

Thanks,
Mike

Submitted by james300@comcast.net on 10 July 2012 - 3:19pm.
2

Mike, What tax assumptions, going forward, are coded into the latest release, 2.20.46?

Thanks
James

Submitted by Mike OConnor on 10 July 2012 - 3:40pm.
3

James,
All Bush tax cuts are extended in 2.20.46, the same as in previous public releases.

At this point in time, Larry concluded that this is the most likely outcome.

Thanks,
Mike

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