can I file my 2012 taxes now ...and avoid paying a higher rate?

[srican69]

not that I want to ...

but heck .. I pretty much know how much I have made ... even if I havent received my 1099.

[PoliticAverse]

1. No. n/t

[srican69]

2. thanks ... I can now lay that thought to rest.

[PoliticAverse]

9. The IRS can't even finish creating the forms until certain tax-issues are decided...

For example, see: https://support.taxwise.com/newsmanager/HotTopics.aspx?id=5233

The Major hold up is the fate of the AMT 'fix'...

see: http://www.bloomberg.com/news/2012-12-19/tax-filing-season-at-risk-of-delay-as-budget-talks-drag.html

[RomneyLies]

3. The tax increases affect the 2013 tax year

When you file next year you will still be paying the 2012 rate.

[srican69]

5. are you sure? if so why so much noise about fiscal cliff ...

wouldn't they have had the whole year to fix that rate?

[tammywammy]

6. Payroll taxes are also going up...FICA, etc. n/t

[RomneyLies]

7. The real cliff are the spending cuts

That will have an immediate affect on the economy.

Plus, employers will have to withhold at a higher rate immediately.

And finally, you will have an additional 2% deducted for FICA starting immediately.

[FourScore]

12. The FICA cut will go into effect no matter what.

Both parties want to let that go.

[BlueStreak]

10. Wage eaners will immediately see taxes withheld at a higher rate come Jan 1

And then if a deal is made that lowers the 2013 rate, your payroll processor should return the excess withholding (or credit it on future paychecks.)

[unblock]

13. correct, and any tax change is very likely to be made retroactive back to january 1, 2013.

as a practical matter, though, it starts affecting withholding much sooner than that.
in principle it should affect your first paycheck in 2013, but in practice they might instruct companies to continue using the 2012 withholding tables until greater clarity emerges.

[alcibiades_mystery]

14. Most people have taxes withheld from their paychecks

If their 2013 tax rate increases, they will immediately have the new rate applied to their withholding.

Obviously, the new rate wouldn't apply to 2012 income.

Duh.

[PoliticAverse]

11. Actually several things are holding up determination of actual 2012 taxes,

including the fate of the 'AMT fix'

see: http://www.bloomberg.com/news/2012-12-19/tax-filing-season-at-risk-of-delay-as-budget-talks-drag.html

[TeamPooka]

4. nope

[mainer]

8. The new fiscal cliff rates are for earned income in 2013

When you file in April, it will be for 2012 income at 2012 tax rates.

[B Calm]

16. The new tax rate doesn't start until

January 2013. This year will be on todays rate.

[SheilaT]

17. Aside from the fact that, as other posters

have already noted, your 2012 taxes are at the 2012 rate, I don't believe the IRS will accept a filing that is obviously missing required paperwork, like the 1099.