2006 Regarding Tax Scams Released By Irs: Difference between revisions
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Latest revision as of 16:24, 20 September 2024
Despite brand new tax rate reductions among the Jobs and Growth Tax Relief Reconciliation Act of 2003, the superior marginal tax bracket for many retirees can be a whopping fouthy-six.3%. Why? Because Social Security benefits are subject to income in taxes. Those affected are Social Security recipients who check out good fortune (misfortune?) turn out to be subject to both the 25% income tax bracket as well as the 85% inclusion rate for Social Security benefits.
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