Difference between revisions of "Dealing With Tax Problems: Easy As Pie"

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Revision as of 14:22, 22 September 2024

The IRS has set many tax deductions and benefits in place for tax payers. Unfortunately, some taxpayers who are earning a high level of income can see these benefits phased out as their income ascends.

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But, this can be the shocking idea. You pay less tax on your first dollars of earnings plus tax all over your last bucks each month. Let us assume you are single and your taxable income covers to $45,000 during 12 months 2010. Then you pay federal tax in the rate of 10 percent on the $8,350 of taxable income. Another 15% imposed on income between $8,350 and $33,950. 25% is charged on income from $33,950 to $45,000.

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