Difference between revisions of "2006 Regarding Tax Scams Released By Irs"

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Latest revision as of 16:04, 8 January 2025

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

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