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AccountingWEB Weekly Insight
Editor's Insight
Okay, so the Middle Class Tax Relief and Job Creation Act of 2012 extends the payroll tax reduction through 2012. Will someone please tell me how the so-called payroll tax holiday makes sense? I see our Congress concentrating on reelection and voting to keep payroll taxes artificially low for people who are among the lucky ones who still have jobs. The reduced payroll taxes remove billions of dollars from a social security program that is already struggling to position itself to handle the throngs of baby boomers who are about to drain the program.

Gail Perry, CPA
Editor-in-Chief
editor@accountingweb.com
News
It's Official: Payroll Tax Holiday Extends through 2012
Ending several weeks of uncertainty, Congress passed the Middle Class Tax Relief and Job Creation Act of 2012 shortly before adjourning for a long President's Day weekend. President Obama is expected to sign the bill as soon as it reaches the White House.
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Demi Moore and Whitney Houston: Do Drugs and Tax Deductions Mix?
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IC Opportunities Event A Forum for Industry Innovation and Change
Jason Blumer, of Blumer and Associates CPAs, has no problem admitting to the conservative nature of the accounting profession. Its reverence of tradition and legacy, its hierarchical leadership style, and its reliance on "tried-and-true" business practices, are what once made the profession great.
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