History On The Federal Income Tax: Difference between revisions

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The IRS has set many tax deductions and benefits instead for individuals. Unfortunately, some taxpayers who bring home a high level of income can see these benefits phased out as their income climbs.

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B) Interest earned, however, not paid, throughout a bond year, must be accrued at the end of the bond year and reported as taxable income for your calendar year in how the bond year ends.

In addition, the exclusion is only some of the good thing that increased. The income level at which each tax bracket applies was also increased for inflation.

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