Summary of H. R. 3838 (Tax Reform Act of 1986) as Passed by the Senate (Classic Reprint)

Summary of H. R. 3838 (Tax Reform Act of 1986) as Passed by the Senate (Classic Reprint)

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Excerpt from Summary of H. R. 3838 (Tax Reform Act of 1986) As Passed by the Senate The 27 -percent rate begins at taxable income levels of for married individuals filing jointly and surviving spouses, for heads of household, for single individuals, and for married individuals filing separately. (taxable income equals ad justed gross income less personal exemptions and less the standard deduction or itemized deductions.) Beginning in 1988, the taxable income amounts at which the 27-percent rate starts (the break points) will be adjusted for inflation. Blended rates for 1987. - For 1987 returns, the bill directs the Treasury Department to prepare blended tax rate schedules; these schedules will incorporate half of the present-law rate structure (as adjusted for inflation) and half of the new rate structure. The income tax withholding tables published by the irs will be changed effective January 1, 1987, to reflect the 1987 blended rate schedules. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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Product details

  • Paperback | 74 pages
  • 152 x 229 x 4mm | 109g
  • English
  • 11 Illustrations; Illustrations, black and white
  • 0243189672
  • 9780243189670