Economy

Uncertainty over Federal taxes gives planners headaches

A lack of resolution around a host of federal tax issues is making it difficult for companies and accountants to do their year-end tax planning.

"The key word here for tax planners is uncertainty," said Greg Sevier, managing partner of Peterson, Peterson & Goss. "It certainly makes planning difficult."

Sevier and his peers said the uncertainty around those tax issues means they are having to delay their tax planning to later in the year.

But with less than four months left in 2010, it's making some clients nervous, in which case tax planners like Shawn Sullivan of Allen, Gibbs & Houlik are offering clients a plan A, B and C.

"It really comes down to: is it all going to change, is some of it going to change or is nothing going to change?" said Sullivan, a vice president at AGH. "I don't remember there being more uncertainty."

Read the complete story at kansas.com

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