Tax cut calculator, lame duck revision

November 23, 2010

TPC tax calculator MFJ DINKS The Tax Policy Center has revised its original expiring tax cuts calculator, just in time for the lame duck Congressional session to debate the issue.

TPC Tax Calculator 2.0 allows you to compare tax bills under three possible scenarios: full extension of the 2001 and 2003 tax cuts, complete expiration of the Bush-era tax cuts and Obama's tax plan.

This iteration also incorporates three major changes:

  1. TPC tax calculator Family4 You can simulate either 2010 or 2011 taxes and compare tax changes against tax law for either year.
  2. You can turn the alternative minimum tax (AMT) patch on or off to continue the temporarily higher exemptions for the AMT or use their lower permanent values. 
  3. You can pick any of five built-in income levels, including two higher incomes in this newest version.

TPC tax calculator HoH The calculator offers six taxpayer types, represented by funky graphics like the three sprinkled in this post. Or you can create your own taxpayer from scratch and then compare tax bills under the potential tax situations for next year.

Have fun running the numbers while we wait for the lame duck Congress to get back from its Thanksgiving break and decide (we hope!) what tax laws we'll really have to follow in 2011.

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Tax Season 2026 Continues!

We made it. Tax Day 2025 is finally over. For most of us. When the filing season started on Jan. 26, millions who were expecting refunds filed immediately. Most of us got our returns to the Internal Revenue Service by April 15. But plenty of taxpayers also got extensions. They are looking at an Oct. 15 filing deadline.

Those procrastinating filers aren’t a problem. In fact, the IRS appreciates taxpayers who take time to fill out their 1040 forms correctly. It also is grateful that tax submissions are spread out a bit, especially now that the IRS is a leaner agency. Processing returns is easier when they arrive throughout the year instead of in massive bunches.

But enough about Uncle Sam’s tax collection issues. The focus now is on all y’all who filed for extensions, giving you another six months to complete your return. Since your new mid-October due date will be here before you know it, let’s get started now on meeting it.

The ol’ blog is here to help you finish up your extended Form 1040. You can start with January’s tax tips page, which has links to the rest of the year’s tips by-month collections. You also can peruse various tax categories for more tailored advice by clicking on the More Tax Posts drop-down menu at the top of this (and every) page.

And to make sure you don’t miss your new filing deadline, the count-down clock below will let you know just how much time you to file by Oct. 15. At the latest.e. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

Comments
  • Yes you are absolutely right but if you have any confusion about tax calculation then there are so many sites are available for help you to calculate easily your state taxes and federal taxes.

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