Weatherford Democrat

Community News Network

January 3, 2013

From NASCAR to rum, the 10 weirdest parts of the 'fiscal cliff' bill

(Continued)

9. Crack down on tax cheats… in prison

The Internal Revenue Service has long worked with state and federal prisons to tamp down on fraud among prisoners who are filing tax returns. Yet as more and more states have been contracting out their jails and prisons to for-profit companies, the IRS has had difficulty sharing its data with private contractors. Never fear, section 209 of the fiscal cliff bill addresses this concern and allows the IRS to share its files with private prisons.

10. Provide incentives for commuters to take the bus or train

Hey, not all of the lesser-known aspects of the fiscal cliff deal are seedy giveaways to big corporations. There's also a small tax break that gives people incentives to take mass transit. (This provision was originally part of the 2009 stimulus but expired last year.)

For the past year, the tax code has subsidized driving to work over taking transit. If you drove, your employer could cover up to $240 per month in parking expenses tax-free. If you took the bus, your employer could only cover $125 in expenses per month tax-free. The two benefits have now been set at equal levels once again for 2012 (retroactively) and 2013. There's some evidence that this change will induce more people to take transit to work, though it will cost $220 million.

Text Only
Community News Network
Must Read
Top News
House Ads
AP Video
Raw: Gunmen Attack Iraqi Prison Convoy Plane Leaves Ukraine With More Crash Victims The Rock Brings Star Power to Premiere Raw: Families Travel to Taiwan Plane Crash Site Arizona Execution Takes Almost Two Hours Gen. Odierno Discusses Ukraine, NATO at Forum Gaza Fighting Rages Amid Cease-Fire Efforts Mint Gives JFK Coin a Face-lift Creative Makeovers for Ugly Cellphone Towers Ariz. Inmate Dies 2 Hours After Execution Began Crash Kills Teen Pilot Seeking World Record LeBron James Sends Apology Treat to Neighbors Raw: Funeral for Man Who Died in NYPD Custody Migrants Back in Honduras After US Deports Israeli American Reservist Torn Over Return
Poll

The City of Weatherford is considering an ordinance that would ban smoking inside restaurants and enclosed areas where food is prepared, sold or consumed. Do you agree with this proposal?

Yes
No
Undecided
Don't care
     View Results