State tax changes on the way in 2012

Source: James O'Toole, CNNMoney.com (Free Registration)

While the fate of the payroll tax extension is still uncertain on Capitol Hill this week, at least some Americans can look forward to tax breaks at the state level when 2012 rolls around.

The cuts are coming despite the fact that state finances in many areas remain under pressure. Although the U.S. economy has shown some recent signs of life, states will still be dealing with billions of dollars worth of total deficits for at least the next few years.

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Tags/Keywords

taxes, irs, taxpayers, economy, tax deductions

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