History Of Your Federal Taxes: Difference between revisions

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Latest revision as of 21:35, 18 October 2026


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Congress finally acted on New Year's Day, passing the "fiscal cliff" law. 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 people higher incomes, the top tax rate was increased to 40.6% These limits are determined transfer pricing with the foreign earned income exception to this rule. An argument that tips, in some or cibai all cases, aren't "compensation received for the performance of non-public services" still might work.

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