tm2 posted at 08:30:13 AM on Dec 22, 2011:
Second, a two month extension is a nightmare to administer for those companies who have payroll. Ever managed the ins and outs of actually doing a payroll run?
I handle payroll, and i really don't see how it would be nightmare. It might be a lot of data entry to change a line item depending on the payroll software, however with quickbooks and peachtree its a matter of downloading the automatic payroll update.
And Peachtree just snaps their fingers and writes new program lines in an instant? No, it takes time. And what does circular E for 2012 say? So short sighted on the actual behind the scenes stuff that makes it so easy for you to download an update and for all the companies that do not use QB or Peachtree or the companies who have their own systems.
Now that a compromise has been agreed to, I'll add a fourth - a two month extension does nothing for economic growth and spending. You cant go and buy a new car with it, you can maybe buy an iPod or new cell phone, maybe a cheap set of tires for your car. It's a waste of time and nothing more than election year politics to advance it for two months, let alone the whole thought hat Obama did it for just a year to being with - so he was the one that wanted to raise taxes on working people when he allowed this to have a one year expiration to begin with.