The voices of Tax Policy Center's researchers and staff
In a flurry of lame-duck activity, Congress quickly passed the Obama-GOP compromise tax plan and the president signed it into law. TPC has incorporated the new law into its Tax Calculator so you can see how the act will affect individual tax bills.
The Tax Calculator lets you compare tax liabilities under the new tax law against what taxes would have been if Congress had simply extended all of the 2001-03 tax cuts or had allowed them to expire as scheduled. As in earlier versions of the calculator, you can look at ready-made examples or create your own case. See what taxes will be this year and what they'll be in 2011. Turn on the AMT patch or see what would happen without it.
There's no better way to see how the new law will affect taxpayers.
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