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Addie Douglas
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How many different tax brackets are in the us?
6
How often do federal tax brackets change?
Tax brackets are the specific tax rates people pay according to their incomes. These tax brackets can change every year. One may also change tax brackets if they have an income increase or decrease.
What is the purpose of the income tax brackets?
Income tax brackets enable the progressive taxation of income.
What is the ordinary income tax rate?
There isn't one...there are many, depending on a number of factors...that is why they are called tax brackets, and even then many factors contribute.
Who started the tax brackets?
The Sweedish National tax government did so
Which country uses tax brackets as part of its tax system?
South africa
When as far as tax brackets go is it counterproductive for a spouse to work?
Never. Tax brackets are on the next dollar...so you never make less by making more!
What tax bracket will you be in with a 35000 income with no dependents?
The 10% and the 15% marginal tax brackets.
What is a graduated tax?
Like the one i the US where there are brackets of percentages of tax, that get larger as the income gets larger. A low earner pay a low percent, a higher earner a higher percent.
What was the main intent of the tax reform act of 1986?
simplify the tax code by reducing the number of tax brackets
What are the low and high tax brackets for salaries?
The low tax bracket for 2008 federal tax brackets is 10 percent for taxable income between $0 and $8,025. The high tax bracket for 2008 is 35 percent for taxable income between $357,700 and above.For 2009 federal tax brackets, the low tax bracket is 10 percent for taxable income between $0 and $8,350. The high tax bracket is 35 percent for taxable income between $372,950 and up.For more information, go to www.irs.gov/newsroom for Article IR-2007-172 (2008 Inflation Adjustments Widen Tax Brackets) and IR-2008-117 (2009 Inflation Adjustments Widen Tax Brackets and Expand Tax Benefits).
What are the different income tax brackets?
Tax brackets are the rates that people pay on their taxable income. The actual rates vary and can range anywhere from 10% to 35%. The tax rates vary based on factors such as marriage status.
