Tag Archives: Marriage Penalty Relief

New Tax Rate Schedules and Marriage Penalty Relief Changes

14 January
tax-code-changes

Tax Rate Schedules (IRC §1) The 2001 tax act reduced tax rates gradually over several years. The tax rates for 2001 were the 15%, 27.5%, 30.5%, 35.5%, and 39.1% tax brackets. A 10% tax bracket was reflected in either an advanced rebate check issued directly to taxpayers, or a tax credit claimed on Form 1040. A special rule […]