How do federal income tax rates work? Q.How do federal income tax rates work? A.The federal individual income tax has seven tax rates that rise with income. Each rate applies only to income in a specific range (tax bracket). Read more about How do federal income tax rates work?
How is cryptocurrency taxed? Q.How is cryptocurrency taxed? A.Cryptocurrencies, or “crypto,” allow individuals to exchange money or trade assets through decentralized networks, as opposed to traditional payments systems and trading platforms managed by the finance industry. Read more about How is cryptocurrency taxed?
How should changes in tax progressivity be measured? Q.How should changes in tax progressivity be measured? A.A broad definition of tax progressivity, that tax burdens rise with household income, masks a host of ambiguities in measuring the effect of a tax change. In our distribution tables, TPC emphasizes the percentage change in after-tax income because it is the most reliable measure of the progressivity of such a change. Read more about How should changes in tax progressivity be measured?