Thanks To Clinton, The Irs Has Bulging Pockets For Now

By all evidence, the so-called Clinton effect on revenues this year will be a humdinger. With many high earners apparently shifting income into 1992 to avoid higher rates in 1993, payments of estimated taxes have soared. According to Treasury data for January, nonwithheld tax payments (those not automatically witheld from paychecks) were up by $14.1 billion over January of last year, a 59% increase--after three years of minuscule January rises.

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