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12 views of the fiscal cliff negotiations

December 12, 2012

Welcome to 12-12-12, the last repeating-number date of the century.

The repetition of 1s and 2s has prompted a lot of interest, intrigue and for some, celebration.

"Iconic dates have become a wedding trend in the United States, reaching
new heights when over 65,000 couples tied the knot on 7-7-'07," Brian Beitler, chief marketing officer for David's Bridal, told USA Today.

So couples are queuing up worldwide to say "I do" today.

The Concert for Sandy Relief tonight will feature some of the biggest names in the music industry. Thanks to online live streams and social media integrations, the charity concert is expected to reach an unprecedented audience.

You can bet 12s will figure prominently in lottery ticket picks and other gambling options, as some casinos are using today's date in promotions to lure patrons who want to test their luck.

And on 12/11/12 @Jin_Campbell broke the day down further on Twitter:


12-12-12 @Jin_Campbell

Of course, here at the ol' tax blog we'll still be watching to see if 12/12/12 is the day a fiscal cliff resolution is reached.

To help us pass the time, here are 12 reports (OK, 14, but a couple are on the same topic) on fiscal cliff developments.

1. Both sides edging toward deal in deficit-reduction negotiations

2. Reid says time running out and Reid says it will be 'extremely difficult' to reach deal on deficit before Christmas

3. Obama Reduces Tax Demand as Budget Talks Inch Forward

4. Unlikely Backers in a Battle Over Taxes

5. Corporate Taxes on Table in Cliff Talks

6. FBI Readies Furlough Plan if Fiscal Cliff Talks Fail

7. Buffett Joins Soros in Effort to Raise Taxes on Estates and Super wealthy: Tax estates more, please

8. Can Jeb Bush sway the GOP on taxes, debt?

9. As U.S. Approaches Debt Limit, Treasury Readies 'Extraordinary' Measures

10. Small Businesses Might Still Hire If Taxes Are Raised

11. Unemployment Benefits Hang on 'Fiscal Cliff' Deal

12. Taking Fiscal Cliff Best Route To Recovery

Here's hoping that the Republicans and President Obama can soon put an end to this growing list.

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The More Tax Posts tab at the top of this page will take you to, well, more tax posts. You also can search below for a tax topic. 

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TAX-SAVVY WAYS 
TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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