Thursday, December 22, 2011

BREAKING: Payroll Tax Deal Near In Congress!

The Congress is near a deal on the extension of the payroll tax cut and the matter is expected to be resolved. 
Under the deal, the cut would be extended for two months BUT Democrats would agree to a genuine House/Senate conference committee (as Republicans suggested all along) to work out differences for a ONE YEAR extension. 
The basis of all this would be the outline of the GOP bill already passed by the House. 
Also, the GOP provision calling for extension of the Keystone energy pipeline would REMAIN in the bill. AND accountants would get better guidance on how to proceed going forward thanks to some new technical provisions in the bill. 
Seems this was worth waiting (and fighting) for!

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