"If the Dems or Reps take control of
everything then any sort of tax code changes are not likely until after
the new Congress sits in January. Wouldn't that be fun to not know
until after the year has started what the tsax code will be?"
But that is often the situation. Consider this year. As the tax laws currently stand this year, my taxes will be controlled by the AMT tax system. If they enact legislation to adjust the AMT exemption amounts, which they've done the last several years, I'll be subject to the regular tax system. Unfortunately I won't know which tax system I will be subject to until likely December, when almost all my income will already be credited and it will be too late to adjust. These guys suck!!!