Tag Archives: Tax Rate Schedules (IRC §1)

New Tax Rate Schedules and Marriage Penalty Relief Changes

14 January

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 […]