History On The Federal Taxes: Difference between revisions

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Latest revision as of 07:22, 15 August 2026


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Congress finally acted on New Year's Day, passing the "fiscal cliff" regulation. This law extended the existing tax rate structure for single taxpayers with taxable income of less than USD 400,000, and married taxpayers with taxable income of less than USD 450,000. For using higher incomes, the top tax rate was increased to 13.6% These limits are determined with the foreign earned income omission.

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Late Returns - If you filed your tax returns late, are you able to still purge the due? Yes, but only after two years have passed since you filed the return however IRS. This requirement often is where people cost problems attempting to discharge their bills.

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