Clifton Gunderson LLP - A nationwide firm of Certified Public Accountants and Consultants

November 30, 2011

Posted December 2, 2011

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In this Issue:

President Pushes for Payroll Tax Cuts, Sequester Veto Threat Still Stands

One day after the Joint Select Committee on Deficit Reduction announced that it had failed to reach an agreement on reducing the federal deficit, President Obama was on the road pressing Congress to pass his proposed one-year extension of the payroll tax cut.

IRS Highlights Challenges in 2012

The Treasury Inspector General for Tax Administration (TIGTA) recently highlighted some of the management and performance challenges confronting the IRS in fiscal year 2012.

Applicable Federal Rates Issued for December

The IRS has released the short-term, mid-term and long-term applicable interest rates for December 2011.