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Revision as of 13:23, 22 October 2024
The IRS Reward Program pays whistleblowers millions for reporting tax evasion. The timing of the new IRS Whistleblower Reward Program could not necessarily better because we live in a time when many Americans are struggling financially. Unfortunately, 10% percent of companies and people are adding to our misery by skipping out on paying their share of taxes.
Because for this increasing tax rate of higher brackets, a reduction of taxable income at a higher bracket saves you more tax than pertaining to reduction at a very lower group. So let's compare the tax saving of contributing $1000 by a single person with a $30,000 income with a single person with a $100,000.
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