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The origin of the current rate schedules is the Internal Revenue Code of 1986 (IRC), [2] [3] which is separately published as Title 26 of the United States Code. [4] With that law, the U.S. Congress created four types of rate tables, all of which are based on a taxpayer's filing status (e.g., "married individuals filing joint returns," "heads of households").
The tax cut extension for the remainder of the year was passed as the Middle Class Tax Relief and Job Creation Act of 2012 on February 17, 2012, by a vote of 293–132 in the House and 60–36 in the Senate. The bill also contained a further extension of unemployment benefits and the Medicare reimbursement rates.
Marginal tax rates and income brackets for 2012 Marginal tax rate [22] Single taxable income Married filing jointly or qualified widow(er) taxable income Married filing separately taxable income Head of household taxable income 10% $0 – $8,700: $0 – $17,400: $0 – $8,700: $0 – $12,400 15% $8,701 – $35,350: $17,401 – $70,700: $8,701 ...
The new law also revived the state and local sales-tax deduction for 2012 and 2013. ... particularly if they made some big purchases in 2012. The IRS provides tables and an online calculator to ...
The following tables summarize, for income tax purposes, the nature of cash. HCP Announces Tax Treatment of 2012 Distributions LONG BEACH, Calif.--(BUSINESS WIRE)-- HCP (NYS: HCP) announced the ...
Like it or not, the rules for filing your taxes change every year. Even experts have to relearn the ropes annually, with law changes, new forms, and other hurdles posing a constant challenge.
February 2012) (Learn how and when to remove this message) The Middle Class Tax Relief and Job Creation Act of 2012 ( Pub. L. 112–96 (text) (PDF) , H.R. 3630 , 126 Stat. 156 , enacted February 22, 2012 ), also known as the " payroll tax cut", was an Act of the United States Congress .
By Susan B. Garland, Editor, Kiplinger's Retirement Report It's a tricky time for taxpayers engaging in the annual ritual of year-end tax planning. Unless Congress intervenes, the Bush-era tax ...