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Revision as of 18:21, 14 May 2026

One more week until Tax lanciao Day. Have you filed yours yet? I haven't (probably should aboard that, actually), and when I read in USA Today that roughly 47% of Americans won't even need to worry about paying federal income taxes, I start to wonder if I would even bother. Oh sure, there's the threat of prison time for tax evasion, but really, what is the point if half the damn country isn't going to up and jump off scot-free?

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Defenders of your IRS position would say it pops up to Section 61. The waitress provided a service for me, and I paid get rid of. Compensation for services is taxable. End of post.

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Congress finally acted on New Year's Day, passing the "fiscal cliff" the law. This law extended the existing tax rate structure for single taxpayers with taxable income of as compared to USD 400,000, and married taxpayers with taxable income of less than USD 450,000. For those with higher incomes, the top tax rate was increased to 39.6% These limits are determined ahead of when the foreign earned income different.

Someone making $80,000 each year is not really making an awful lot of riches. The fed's 'take' is significantly now. Income taxes originally started at 1% for the rich. And already the government is intending to tax you more.

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