Making the tax code less complex would mean creating new groups of winners and losers. Does Congress have the guts?
With all the maneuvering, it's hard to keep up without a scorecard. Here are the major changes that will affect your taxes this year.
Homeowners who don't itemize lost a deduction, but TV producers, rum makers and race horse buyers gained.
Tax credit for energy-saving improvements was extended, but won't be nearly as generous in 2011. That means a rush now.
Hedge-fund managers and affluent taxpayers mostly do well, but couples earning less than $40,000 may pay more taxes.
The package extends many Bush-era tax breaks, including lower rates, and cuts the Social Security payroll tax from 6.2% to 4.2%.
Taxpayers who didn't have enough withheld because of the Making Work Pay credit will have to pay up when they file.
VIDEO ON MSN MONEY
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
The Market Dispatches column has been discontinued. Here's where to find the latest stock and business news on MSN Money, and the latest from market writer Charley Blaine.
MONEY & POLITICS
Breaking up big banks is an untested solution to the too big to fail problem that attempts to isolate and dismantle large, troubled institutions while protecting the rest of the economy.
Six weeks later, most Americans have forgotten about the 2014 tax season -- except those who didn't file by the April 15 deadline.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'