History Belonging To The Federal Taxes: Difference between revisions

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Despite brand new tax rate reductions from the Jobs and Growth Tax Relief Reconciliation Act of 2003, leading marginal tax bracket for many retirees can be a whopping fouthy-six.3%. Why? Because Social Security benefits are subject to income taxation. Those affected are Social Security recipients who include the good fortune (misfortune?) always be subject to both the 25% taxes bracket and the 85% inclusion rate for Social Security benefits.

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