Difference between revisions of "History Of Your Federal Income Tax"

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Latest revision as of 03:26, 22 September 2024

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The Tax Reform Act of 1986 reduced the actual rate to 28%, at the same time raising the bottom rate from 11% to 15% (in fact 15% and 28% became single two tax brackets).

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The very good news though, would be the majority of Americans have simpler tax statements than they realize. The majority of people get our income from standard wages, salaries, and pensions, meaning it's easier to calculate our deductibles. The 1040EZ, the tax form nearly share of Americans use, is only 13 lines long, making things quicker to understand, the use software to back it up.

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