Without new legislation, here are some of the main points of the scheduled tax hikes that may affect you beginning January 1, 2013:

*2013 federal income tax rates return to higher 2001 levels with the top rate increasing from 35% to 39.6%.

*Maximum long term capital gains tax rate increases from 15% to 20%

*Dividends will be taxed as ordinary income rather than at long term capital gain rates.

*The 2% temporary reduction in Federal Insurance Contributions Act (FICA) payroll tax expires

*Estate and gift tax provisions revert to 2001 rules

*The earned income tax credit and American Opportunity (Hope) tax credit expire

*The child tax credit reduces from $1,000 to $500

*High-income households may not be able to take some itemized deductions and personal exemptions in full

*Alternative Minimum Tax thresholds revert to their 2000 tax year levels

*New taxes will be imposed by the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010