CCH, a Wolters Kluwer business, recently released its 2013 Fiscal Cliff Estimator, a tool to help taxpayers and their advisors prepare for possible outcomes of the fiscal cliff negotiations. CCH provides tax, accounting and audit information, software and services for tax, accounting and business professionals.
The Fiscal Cliff Estimator compares a taxpayer’s tax liability for 2012 against the pending tax packages, such as tax proposals from the White House and Congress and the possible extension or expiration of the Bush-era tax cuts. The Estimator is available via IntelliConnect and CCH Mobile, as well as the CCH website.
Users enter their taxable income, capital gains and dividend income figures in the Estimator tool and select one or more of the three major plans to compare their projected 2013 tax liability against the current 2012 tax scheme. The tool then projects the estimated income tax figures of each plan based on the user’s inputs. The tool’s projections are linked to CCH Tax Briefings that outline the various tax policies and tax planning considerations. CCH Tax Briefings provide explanations and analyses of the possible tax policy impacts and summaries on tax planning strategies to provide a better understanding of the possible outcomes of the fiscal cliff negotiations. The seamless integration makes it easier for taxpayers and practitioners to compare different scenarios.
“While everyone waits for news on fiscal cliff negotiations, CCH’s new Fiscal Cliff Estimator tool helps cut through all the uncertainty to paint a clearer picture of how certain scenarios may affect their tax returns,” said Cindy Kaplan, CCH Product Marketing Manager. “The Estimator is fully integrated with CCH’s latest projection and estimate data. It enables professionals to provide a tax planning advantage for their clients and also empowers individual taxpayers with an upper hand on research for planning ahead.”