{"id":601,"date":"2013-01-30T00:00:00","date_gmt":"2013-01-30T05:00:00","guid":{"rendered":"http:\/\/events-lindabury.blawgcloud.com\/1970\/01\/an-overview-of-the-american-taxpayer-relief-act-of-2012.html"},"modified":"2020-01-02T18:50:43","modified_gmt":"2020-01-02T23:50:43","slug":"an-overview-of-the-american-taxpayer-relief-act-of-2012","status":"publish","type":"post","link":"https:\/\/www.lindabury.com\/firm\/insights\/an-overview-of-the-american-taxpayer-relief-act-of-2012.html","title":{"rendered":"An Overview of The American Taxpayer Relief Act of 2012"},"content":{"rendered":"<p><span style=\"line-height: 1.6em;\">President Obama, using the autopen, signed the American Taxpayer Relief Act of 2012 (the \u201cAct\u201d) into law on January 2, 2013. The following is a summary list of the Act\u2019s major changes to and extensions of prior law. We will keep you informed of possible important updates resulting from a comprehensive tax reform.<\/span><\/p>\n<p><strong>Individual Income Tax Rates.<\/strong> The Act keeps in place the Bush-era income tax rates for most individuals (staying at 10%, 15%, 25%, 28%, 33%, and 35%) except that the highest marginal income tax bracket rises to 39.6% for individual filers whose taxable income is more than $400,000 ($450,000 for joint filers and for qualifying surviving spouses; $425,000 for qualifying heads of households; and $225,000 for married taxpayers filing separately).<\/p>\n<p><strong>Medicare Taxes. <\/strong>The Act does not affect the Medicare taxes effective in 2013. There will thus be an additional 0.9% Medicare tax on wages over $200,000 for single individual filers ($250,000 for joint filers and qualifying surviving spouses; $200,000 for qualifying heads of households; and $125,000 for married taxpayers filing separately). The 3.8% Medicare tax on certain net investment income also starts to apply to single individual filers with modified adjusted gross income over $200,000 ($250,000 for joint filers and for qualifying surviving spouses; $200,000 for qualifying heads of households; and $125,000 for married taxpayers filing separately).<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.lindabury.com\/firm\/insights\/an-overview-of-the-american-taxpayer-relief-act-of-2012.html\"  title=\"Continue Reading An Overview of The American Taxpayer Relief Act of 2012\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>President Obama, using the autopen, signed the American Taxpayer Relief Act of 2012 (the \u201cAct\u201d) into law on January 2, 2013. The following is a summary list of the Act\u2019s major changes to and extensions of prior law. We will keep you informed of possible important updates resulting from a comprehensive tax reform. Individual Income [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[65,68,343],"tags":[],"coauthors":[192],"class_list":["post-601","post","type-post","status-publish","format-standard","hentry","category-insights","category-blasi","category-wills-trusts-estates-insights"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>An Overview of The American Taxpayer Relief Act of 2012 &#8212; January 30, 2013 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events<\/title>\n<meta name=\"description\" content=\"President Obama, using the autopen, signed the American Taxpayer Relief Act of 2012 (the \u201cAct\u201d) into law on January 2, 2013. The following is a summary\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lindabury.com\/firm\/insights\/an-overview-of-the-american-taxpayer-relief-act-of-2012.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"An Overview of The American Taxpayer Relief Act of 2012 &#8212; January 30, 2013 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events\" \/>\n<meta property=\"og:description\" content=\"President Obama, using the autopen, signed the American Taxpayer Relief Act of 2012 (the \u201cAct\u201d) into law on January 2, 2013. The following is a summary\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lindabury.com\/firm\/insights\/an-overview-of-the-american-taxpayer-relief-act-of-2012.html\" \/>\n<meta property=\"og:site_name\" content=\"Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events\" \/>\n<meta property=\"article:published_time\" content=\"2013-01-30T05:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-01-02T23:50:43+00:00\" \/>\n<meta name=\"author\" content=\"John R. Blasi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"John R. Blasi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"An Overview of The American Taxpayer Relief Act of 2012 &#8212; January 30, 2013 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events","description":"President Obama, using the autopen, signed the American Taxpayer Relief Act of 2012 (the \u201cAct\u201d) into law on January 2, 2013. The following is a summary","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.lindabury.com\/firm\/insights\/an-overview-of-the-american-taxpayer-relief-act-of-2012.html","og_locale":"en_US","og_type":"article","og_title":"An Overview of The American Taxpayer Relief Act of 2012 &#8212; January 30, 2013 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events","og_description":"President Obama, using the autopen, signed the American Taxpayer Relief Act of 2012 (the \u201cAct\u201d) into law on January 2, 2013. The following is a summary","og_url":"https:\/\/www.lindabury.com\/firm\/insights\/an-overview-of-the-american-taxpayer-relief-act-of-2012.html","og_site_name":"Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events","article_published_time":"2013-01-30T05:00:00+00:00","article_modified_time":"2020-01-02T23:50:43+00:00","author":"John R. Blasi","twitter_card":"summary_large_image","twitter_misc":{"Written by":"John R. Blasi","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.lindabury.com\/firm\/insights\/an-overview-of-the-american-taxpayer-relief-act-of-2012.html#article","isPartOf":{"@id":"https:\/\/www.lindabury.com\/firm\/insights\/an-overview-of-the-american-taxpayer-relief-act-of-2012.html"},"author":{"name":"Lindabury, McCormick, Estabrook &amp; Cooper, P.C.","@id":"https:\/\/www.lindabury.com\/firm\/#\/schema\/person\/429b3bd6b52a7aa6eb9a0709bbb4d06f"},"headline":"An Overview of The American Taxpayer Relief Act of 2012","datePublished":"2013-01-30T05:00:00+00:00","dateModified":"2020-01-02T23:50:43+00:00","mainEntityOfPage":{"@id":"https:\/\/www.lindabury.com\/firm\/insights\/an-overview-of-the-american-taxpayer-relief-act-of-2012.html"},"wordCount":808,"articleSection":["Insights","John R. Blasi","Wills, Trusts &amp; Estates"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.lindabury.com\/firm\/insights\/an-overview-of-the-american-taxpayer-relief-act-of-2012.html","url":"https:\/\/www.lindabury.com\/firm\/insights\/an-overview-of-the-american-taxpayer-relief-act-of-2012.html","name":"An Overview of The American Taxpayer Relief Act of 2012 &#8212; January 30, 2013 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events","isPartOf":{"@id":"https:\/\/www.lindabury.com\/firm\/#website"},"datePublished":"2013-01-30T05:00:00+00:00","dateModified":"2020-01-02T23:50:43+00:00","author":{"@id":"https:\/\/www.lindabury.com\/firm\/#\/schema\/person\/429b3bd6b52a7aa6eb9a0709bbb4d06f"},"description":"President Obama, using the autopen, signed the American Taxpayer Relief Act of 2012 (the \u201cAct\u201d) into law on January 2, 2013. The following is a summary","breadcrumb":{"@id":"https:\/\/www.lindabury.com\/firm\/insights\/an-overview-of-the-american-taxpayer-relief-act-of-2012.html#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.lindabury.com\/firm\/insights\/an-overview-of-the-american-taxpayer-relief-act-of-2012.html"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.lindabury.com\/firm\/insights\/an-overview-of-the-american-taxpayer-relief-act-of-2012.html#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"\/"},{"@type":"ListItem","position":2,"name":"Insights","item":"https:\/\/www.lindabury.com\/firm\/insights"},{"@type":"ListItem","position":3,"name":"An Overview of The American Taxpayer Relief Act of 2012"}]},{"@type":"WebSite","@id":"https:\/\/www.lindabury.com\/firm\/#website","url":"https:\/\/www.lindabury.com\/firm\/","name":"Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events","description":"Published by Lindabury, McCormick, Estabrook &amp; Cooper","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.lindabury.com\/firm\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.lindabury.com\/firm\/#\/schema\/person\/429b3bd6b52a7aa6eb9a0709bbb4d06f","name":"Lindabury, McCormick, Estabrook &amp; Cooper, P.C.","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a19d0fac94b8d3d657028926f65c841917c5f8f0dd3f23ad394e83f16c690e09?s=96&d=mm&r=g3f2ca7450f0195db092bccff4fb8982e","url":"https:\/\/secure.gravatar.com\/avatar\/a19d0fac94b8d3d657028926f65c841917c5f8f0dd3f23ad394e83f16c690e09?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a19d0fac94b8d3d657028926f65c841917c5f8f0dd3f23ad394e83f16c690e09?s=96&d=mm&r=g","caption":"Lindabury, McCormick, Estabrook &amp; Cooper, P.C."},"sameAs":["https:\/\/www.lindabury.com"]}]}},"yoast":{"focuskw":"","title":"","metadesc":"","linkdex":"","metakeywords":"","meta-robots-noindex":"","meta-robots-nofollow":"","meta-robots-adv":"","canonical":"","redirect":"","opengraph-title":"","opengraph-description":"","opengraph-image":"","twitter-title":"","twitter-description":"","twitter-image":""},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/posts\/601","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/comments?post=601"}],"version-history":[{"count":3,"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/posts\/601\/revisions"}],"predecessor-version":[{"id":2266,"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/posts\/601\/revisions\/2266"}],"wp:attachment":[{"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/media?parent=601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/categories?post=601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/tags?post=601"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.lindabury.com\/firm\/wp-json\/wp\/v2\/coauthors?post=601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}