History Of Your Federal Income Tax: Difference between revisions

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If you claim 5 personal exemptions, your taxable income is reduced another $15 thousand to $23,500. Your earnings tax bill is only going to be approximately three thousand dollars.

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Congress finally acted on New Year's Day, passing the "fiscal cliff" law transfer pricing . This law extended the existing tax rate structure for single taxpayers with taxable income of lower than USD 400,000, and married taxpayers with taxable income of less than USD 450,000. For having higher incomes, the top tax rate was increased to twenty.6% These limits are determined with the foreign earned income different.

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These figures seem to oblige the argument that countries with high tax rates take proper their people resident. Israel, however, has a tax rate that peaks at 47%, very nearly equal to it of Belgium and Austria, yet few would contend that that in identical shoes class when considering civil shipping.

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