The "Fiscal Cliff" is the description economists have used that describes the potential situation at year-end 2012 when a number of U.S. tax and fiscal changes are scheduled to occur. This "perfect storm" of change includes the expiration of the Bush income tax cuts at the end of 2012, and starting in 2013 some new taxes and scheduled increases in income and estate taxes. Federal spending cuts are also scheduled to occur beginning in 2013 as part of the "sequestration" results (an automatic form of spending cutbacks in Congress) from the Budget Control Act of 2011.
If lawmakers cannot agree on how to address the pending fiscal cliff issues, trillions of dollars of tax increases and spending cuts will go into effect beginning in January of 2013. Add to that an election year and the fact that all those changes are scheduled to happen at once, the concerns are that those changes could lead to a double-dip recession (a recession followed by a short recovery, then another recession) in 2013.
Date and Time: Thursday, December 6th @ 2:00 - 2:45 PM EST
Complete the form below to join us for a thought-provoking webinar that will show you how the upcoming 2013 “Fiscal Cliff” can affect your clients and how you can help by providing them with up-to-date information.