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Accounting and tax

2020 Tax Brackets

2020 Federal Income Tax Brackets The IRS adjusted more than 60 tax provisions for 2020 annual inflation adjustments. These adjustments are generally used on tax returns filed on 2021.  2020 IRS Tax Brackets and Rates (for taxes due in April 2021) 2020 Single Tax Brackets 2020 Married Filing Jointly Tax Brackets 2020 Married Filing Separately

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Filing Tax Requirements

Do I Need to File a Tax Return? You are required to file an income tax return if your income is above a certain level each year. In general, you do not need to submit a federal tax return if your total income for the year does not exceed certain thresholds. Factors such as age,

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2019 Tax Brackets

2019 Federal Income Tax Brackets After major tax legislation overhauls with the Tax Cuts and Jobs Act, most of the tax changes are inflation adjustments from 2018’s tax brackets. The TCJA requires for annual inflation adjustments to be computed based on the chained consumer price index rather than the regular consumer price index. This permanent

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2018 Tax Brackets

2018 Federal Income Tax Brackets The most comprehensive tax legislation since the Tax Reform Act of 1986 has been adopted on December 22, 2017. The Tax Cuts and Jobs Act of 2017 (TCJA) makes slight decreases on most individual tax brackets for income tax rates. The TCJA notably surges individual alternative minimum tax (AMT) and

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