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Rev. rul. 2023-31 Form: What You Should Know
The notice to shareholders now states the following notice. (1) The 2024 tax year does not have a special tax rate. Therefore, you cannot use the tax rate from this year. (2)Β The federal rate of 5.25% applies to this amount and the Wisconsin rate of 7.75%. (3) This amount is reported as an adjustment. (4) You have a deduction of 3,000 on Form 8606 filed on Schedule C (Form 8938) to reduce the tax liability on this amount. (5) The Wisconsin deduction is not to be reported on Schedule C (Form 8938). The amount of this deduction is 13,500.00. IRS 2024 Proposed Rate Table (Form 740) This table is for the 2024 tax year. As noted, this table is an amendment of the table proposed in IRS 2024 Proposed Rate tables (Form 740), which are for the 2024 tax year. IRS 2020-26-1.01 2018 Tax Year Effective tax rates Table 2 : New Year's Eve 2024 Tax Year Adjusted gross income 2017 tax year: Adjusted gross income 0 β 9,525 1,958.94 β 32,950 1,788.60 β 47,100 1,748.80 β 60,800 1,707.30 β 74,500 1,662.50 β 100,000 1,580.00 β 150,000 1,465.00 β 200,000 1,270.00 β 250,000 1,168.00 β 300,000 1,115.00 β 400,000 933.00 β 500, tax year: Adjusted gross income 50,001 β 99,999 2,867.66 β 49,800 2,763.46 β 68,200 2,650.75 β 77,100 2,632.50 β 89,800 2,531.00 β 122,500 2,454.75 β 154,500 2,250.00 β 199,999 1,985.00 β 249,999 1,920.00 β 399,999 1,840.00 β 499,999 1,780.
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