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  • A List of Expiring (and Expired) Tax Breaks for Individuals

    Next year, Americans are facing numerous tax changes. To start with, tax rates on ordinary income are going up for everyone, unless Congress acts to extend the lower rates currently in effect. At the low end of the income scale, the existing 10 percent bracket will become 15 percent. At the top of the scale, the existing 35 percent bracket will be replaced by a 39.6 percent bracket.

    Of course, no one can predict with certainty whether Congress will extend some of these deductions, credits and rates. It depends on what happens in Washington. As we've learned in the past, Congress could pass laws to bring some of these tax breaks back -- even retroactively after the new year. Stay tuned.

    Check out a list of tax breaks that will expire on December 31, 2012 and those that expired on December 31, 2011. 


    11/19/2012