Will the expiration of the "Bush Tax Cuts" affect taxes paid in 2012?

You are mostly okay for 2012. Your withholding will change for 2013.

The tax return you file in 2013, for the year 2012, is based on 2012.

However, if you make enough money, you might have AMT to worry about. You then will not be able to file your tax return until sometime after March 2013.

Giving the rich a tax cut back is affecting me. via no longer pulling in sufficient funds to conceal trouble-unfastened government working expenditures, the government borrows funds to fulfill its desires, and reasons a devaluation of the dollar. while the dollar has much less procuring ability, it has the comparable consequence as though the government replaced into amassing greater taxes from me. So tax cuts for the rich capacity much less earnings my pocket, era. or maybe nonetheless all and sundry have been given a wreck from Bush's tax cuts, it rather is the rich that have been given greatest tax cuts. the two way, the government is heavily in debt authentic now and there are 2 wars occurring, why in international do you think of it rather is a physically powerful time for tax cuts? Whoever turns into president will could desire to advance taxes ultimately, because of the fact government finance because it stands isn't sustainable on an enduring foundation. What approximately this do you no longer comprehend?

The regular income tax rates, credits, and deductions are not going to be retroactively changed. The majority of people will be fine with a correctly filled out W-4.

The exemptions for the Alternative Minimum Tax have been re-set every year, but have not been re-set yet. Until and unless these exemptions are re-set, there is a possibility that some people will be paying additional taxes that have not been withheld on their wages.

no

what has been in effect for 2012 ie. the reduced SS, the income tax rates etc. will be effective to file your 2012 tax return

any changes will be effective Jan. 1, 2013 and the subsequent year

The people who can be affected on their 2012 taxes are those that pay AMT. This isn't because of the Bush "tax cuts" but rather that the AMT is patched once each year and it hasn't been patched yet.

This is just because you are an early filer: Unless the AMT patch is completed by Congress, early filers like us won't be able to file until late January.