Paying Taxes Can Tax The Best Of Us: Difference between revisions

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

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