A Background Of Taxes - Part 1: Difference between revisions

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Revision as of 10:13, 21 September 2024

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The Tax Reform Act of 1986 reduced the actual rate to 28%, in the same time raising the bottom rate from 11% to 15% (in fact 15% and 28% became discharge two tax brackets).

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B) Interest earned, nevertheless paid, during a bond year, must be accrued following the bond year and reported as taxable income for the calendar year in that this bond year ends.

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