TAG Tax

Contact: Reid and Riege (Connecticut, USA - TAGLaw)

On January 2, 2013, the Country was spared of the effects, but not the drama, of the “fiscal cliff” that would have automatically provided for draconian cuts in federal spending together with enormous tax increases. While many felt that the “fiscal cliff” presented an opportunity for signifi cant tax and spending reform, they will have to wait at least two months for the coming battle over the temporarily tabled “sequester” on program cuts. The less than grand deal is encompassed in the American Taxpayer Relief Act of 2012 (the “2012 Act”), which should be reviewed in conjunction with the fi rst installment of revenue raising provisions set forth in the Patient Protection and Affordable Care Act (the “Health Act”).

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