Why Should You File Past Years Taxes Online: Difference between revisions

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Revision as of 15:25, 21 September 2024

Despite the new tax rate reductions of the Jobs and Growth Tax Relief Reconciliation Act of 2003, helpful ideas marginal income tax bracket for many retirees is a whopping forty six.3%. Why? Because Social Security benefits are subject to income taxation. Those affected are Social Security recipients who hold the good fortune (misfortune?) pertaining to being subject to both the 25% tax bracket and the 85% inclusion rate for Social Security benefits.

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