A Payroll Cliff Hanger

cliffAs the nation waits to see if lawmakers will cut a deal to avert the fiscal cliff by December 31st, Americans are faced with much uncertainty about what their take-home pay will be in the coming year. With the expiration of both the Bush tax cuts and the payroll tax holiday, one thing seems certain – taxes will go up. We will have to wait and see whether the Treasury will change the IRS witholding tables to help lessen the sting, but many economists warn that this is a dangerous solution. With this fiscal cliff hanger, we are all watching to see what the resolution and outcome will be.

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David Lewis — AKA Mister HR