scholarly journals Taxation: Federal Income Tax: Commission Received by Life Insurance Agent on Policies Purchased by Him Held to Be Taxable Income

1959 ◽  
Vol 58 (2) ◽  
pp. 292
Author(s):  
Roger W. Findley
Keyword(s):  
Life Insurance ◽  
Income Tax ◽  
Taxable Income ◽  
Federal Income Tax ◽  
Insurance Agent

scholarly journals Social Security Benefits Taxation: Issues And Present Status

2012 ◽  
Vol 10 (12) ◽  
pp. 659
Author(s):  
Ralph B. Fritzsch ◽  
Neal R. VanZante ◽  
Catherine Gaharan
Keyword(s):  
Social Security ◽  
Income Tax ◽  
Tax Law ◽  
Font Size ◽  
Tax Rate ◽  
Taxable Income ◽  
Current State ◽  
Federal Income Tax ◽  
Gross Income ◽  
Social Security Benefits

<span style="font-family: Times New Roman; font-size: small;"> </span><p style="margin: 0in 0.5in 0pt; text-align: justify; mso-pagination: none;" class="MsoBodyText"><span style="color: black; font-size: 10pt; mso-themecolor: text1;"><span style="font-family: Times New Roman;">Taxation of Social Security benefits was introduced in 1983 as part of a general restructuring of Social Security.<span style="mso-spacerun: yes;"> </span>As part of the 1993 Omnibus Budget Reconciliation Act, taxation of benefits was revised and expanded.<span style="mso-spacerun: yes;"> </span>Inclusion of social security benefits as part of taxable income is determined by comparing a modification of adjusted gross income and half of social security benefits to threshold amounts established in each tax law. <span style="mso-spacerun: yes;"> </span>Unlike most amounts used to determine tax, the thresholds were not subject to indexation or revision. <span style="mso-spacerun: yes;"> </span>This paper examines the current state of social security taxation in light of personal income changes, social security benefit revisions and federal income tax rate and bracket modifications that have taken place over the fourteen years since the last revision in taxation of benefits.</span></span></p><span style="font-family: Times New Roman; font-size: small;"> </span>

Simplified Procedures for Computing the Federal Income Tax

1969 ◽  
Vol 62 (1) ◽  
pp. 5-11
Author(s):  
Robert L. Morton
Keyword(s):  
Lower Limit ◽  
Income Tax ◽  
Internal Revenue Service ◽  
Taxable Income ◽  
Internal Revenue ◽  
Federal Income Tax ◽  
The Difference ◽  
Simplified Procedures

The procedure outlined by the Internal Revenue, service (IRS) for computing the amount of tax due, after the taxable income has been determined (line lld, Form 1040), requires five computational steps: (1) subtract the lower limit or the top bracket from the taxable income, (2) multiply the difference by the applicable rate, (3) add the product to a stated amount, (4) multiply the amount obtained in Step 3 by .075, and (5) add the product to the amount obtained in Step 3.

Sign in / Sign up

Export Citation Format

Share Document