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Economic projections for 2013 have lacked the gloomy outlook of previous years, but are still “far from spectacular," reports global financial services company Credit Suisse.
New York Bankers Association President Michael Smith talks about the trouble with Washington lawmakers who can’t find common ground over economic issues, and why the changes that have been made give many in the industry reason to be cautiously optimistic.
The national and regional economies will likely be mired in a slow-growth pattern for the first half of 2013 as businesses await a resolution on government spending and the U.S. debt, Federal Reserve economist Rae Rosen said Jan. 11 in Stamford.
On Jan. 1, Congress passed HR 8, the American Taxpayer Relief Act, which will prevent many of the tax increases that were scheduled to go into effect this year while at the same time retaining many of the scheduled tax breaks that were set to expire. Here are some key provisions of the new law.
With the election and the fiscal cliff looming, it was a difficult year filled with uncertainty for accountants and small businesses.
Now that Congress’ tax agreement to avoid the fiscal cliff is in place, long-term homeowners may be in for an unpleasant surprise when it’s time to sell their homes.
In preparation for his February budget proposal, Gov. Dannel P. Malloy said he’s anxious to hear what sequestrations cuts Congress will approve within the next two months as part of Washington’s extended deadline to avert the fiscal cliff.
At the 13th hour, with a deal seemingly on the verge of collapse, the U.S. House of Representatives rallied to pass a deal preventing tax hikes for most Americans and postponing billions of dollars in spending cuts that were to take effect.
In-store and online retail sales from Oct. 28 to Dec. 24 increased 0.7 percent relative to the same period a year ago, according to a report released Dec. 25.
Obama administration officials have told Republicans they are willing to discuss an overhaul of the corporate tax code as part of negotiations over the fiscal cliff, according to a report by The Wall Street Journal.
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