|
Technical And Miscellaneous Revenue Act Of 1988
The Technical and Miscellaneous Revenue Act of 1988 (TAMRA) () made corrections to the Tax Reform Act of 1986 and the Revenue Act of 1987. For example: The 1986 Act introduced the "Kiddie" tax, taxing children under 14 on part of their unearned income at their parent's top marginal rate, unless the tax at the child's marginal rate would be higher. TAMRA allowed parents to elect to include the unearned income of their children under 14 on their own returns. Subtitle J of the act is named the ''Omnibus Taxpayer Bill of Rights''. This was updated in the 1996 Taxpayer Bill of Rights 2, and the 1998 Taxpayer Bill of Rights III The Internal Revenue Service Restructuring and Reform Act of 1998, also known as Taxpayer Bill of Rights III (), resulted from hearings held by the United States Congress in 1996 and 1997. The Act included numerous amendments to the Internal Revenu .... United States federal taxation legislation 1988 in American law {{US-fed-statute-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Reform Act Of 1986
The Tax Reform Act of 1986 (TRA) was passed by the 99th United States Congress and signed into law by President Ronald Reagan on October 22, 1986. The Tax Reform Act of 1986 was the top domestic priority of President Reagan's second term. The act lowered federal income tax rates, decreasing the number of tax brackets and reducing the top tax rate from 50 percent to 28 percent. The act also expanded the earned income tax credit, the standard deduction, and the personal exemption, removing approximately six million lower-income Americans from the tax base. Offsetting these cuts, the act increased the alternative minimum tax and eliminated many tax deductions, including deductions for rental housing, individual retirement accounts, and depreciation. Although the tax reform was projected to be revenue-neutral, it was popularly referred to as the second round of Reagan tax cuts (following the Economic Recovery Tax Act of 1981). The bill passed with majority support in both the Hous ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dan Rostenkowski
Daniel David Rostenkowski (January 2, 1928 – August 11, 2010) was a United States Representative from Chicago, serving for 36 years, from 1959 to 1995. He became one of the most powerful legislators in Congress, especially in matters of taxation. He was imprisoned in 1996. A Democrat and son of a Chicago alderman, Rostenkowski was for many years Democratic Committeeman of Chicago's 32nd Ward, retaining this position while also serving in Congress. In national politics, he rose by virtue of seniority to the rank of Chairman of the House Ways and Means Committee in 1981. As Chairman of the Ways and Means Committee, he played a critical role in formulating tax policy during the Republican administration of Ronald Reagan, including the Economic Recovery Tax Act of 1981, which cut the top federal bracket to 50%, and the Tax Reform Act of 1986, which further lowered it to 28% and reduced the number of brackets to only two. He was also involved in trade policy, as well as reform ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Democratic Party (United States)
The Democratic Party is one of the two major contemporary political parties in the United States. Founded in 1828, it was predominantly built by Martin Van Buren, who assembled a wide cadre of politicians in every state behind war hero Andrew Jackson, making it the world's oldest active political party.M. Philip Lucas, "Martin Van Buren as Party Leader and at Andrew Jackson's Right Hand." in ''A Companion to the Antebellum Presidents 1837–1861'' (2014): 107–129."The Democratic Party, founded in 1828, is the world's oldest political party" states Its main political rival has been the Republican Party since the 1850s. The party is a big tent, and though it is often described as liberal, it is less ideologically uniform than the Republican Party (with major individuals within it frequently holding widely different political views) due to the broader list of unique voting blocs that compose it. The historical predecessor of the Democratic Party is considered to be th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Illinois
Illinois ( ) is a U.S. state, state in the Midwestern United States, Midwestern United States. Its largest metropolitan areas include the Chicago metropolitan area, and the Metro East section, of Greater St. Louis. Other smaller metropolitan areas include, Peoria metropolitan area, Illinois, Peoria and Rockford metropolitan area, Illinois, Rockford, as well Springfield, Illinois, Springfield, its capital. Of the fifty U.S. states, Illinois has the List of U.S. states and territories by GDP, fifth-largest gross domestic product (GDP), the List of U.S. states and territories by population, sixth-largest population, and the List of U.S. states and territories by area, 25th-largest land area. Illinois has a highly diverse Economy of Illinois, economy, with the global city of Chicago in the northeast, major industrial and agricultural productivity, agricultural hubs in the north and center, and natural resources such as coal, timber, and petroleum in the south. Owing to its centr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States House Committee On Ways And Means
The Committee on Ways and Means is the chief tax-writing committee of the United States House of Representatives. The committee has jurisdiction over all taxation, tariffs, and other revenue-raising measures, as well as a number of other programs including Social Security, unemployment benefits, Medicare, the enforcement of child support laws, Temporary Assistance for Needy Families, foster care, and adoption programs. Members of the Ways and Means Committee are not allowed to serve on any other House Committee unless they are granted a waiver from their party's congressional leadership. It has long been regarded as the most prestigious committee of the House of Representatives. The United States Constitution requires that all bills regarding taxation must originate in the U.S. House of Representatives, and House rules dictate that all bills regarding taxation must pass through Ways and Means. This system imparts upon the committee and its members a significant degree of influe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ronald Reagan
Ronald Wilson Reagan ( ; February 6, 1911June 5, 2004) was an American politician, actor, and union leader who served as the 40th president of the United States from 1981 to 1989. He also served as the 33rd governor of California from 1967 to 1975, after having a career in entertainment. Reagan was born in Tampico, Illinois. He graduated from Eureka College in 1932 and began to work as a sports announcer in Iowa. In 1937, Reagan moved to California, where he found Ronald Reagan filmography, work as a film actor. From 1947 to 1952, Reagan served as the president of the Screen Actors Guild, working to Hollywood blacklist, root out alleged communist influence within it. In the 1950s, he moved to a career in television and became a spokesman for General Electric. From 1959 to 1960, he again served as the guild's president. In 1964, his speech "A Time for Choosing" earned him national attention as a new conservative figure. Building a network of supporters, Reagan was 1966 Califo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Revenue Act Of 1987
The Omnibus Budget Reconciliation Act of 1987 (or OBRA-87.) was federal law that was enacted by the 100th United States Congress and signed into law by President Ronald Reagan. Specifics Title I: Agriculture and Related Programs *Subtitle A: Adjustments to Agricultural Commodity Programs *Subtitle B: Optional Acreage Diversion *Subtitle C: Farm Program Payments *Subtitle D: Rural Electrification Administration Programs *Subtitle E: Miscellaneous Title II: National Economic Commission Title III: Education Programs *Subtitle A: Guaranteed Student Loan Program Savings *Subtitle B: Sale of College Facilities and Housing Loans Title IV: Medicare, Medicaid, and Other Health-Related Programs *Subtitle A: Medicare *Subtitle B: Medicaid *Subtitle C: Nursing Home Reform *Subtitle D: Vaccine Compensation *Subtitle E: Rural Health Title V:Energy and Environment Programs *Subtitle A: Nuclear Waste Amendments *Subtitle B: Federal Onshore Oil and Gas Leasing Reform Act of 1987 *Subtitle C: ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unearned Income
Unearned income is a term coined by Henry George to refer to income gained through ownership of land and other monopoly. Today the term often refers to income received by virtue of owning property (known as property income), inheritance, pensions and payments received from public welfare. The three major forms of unearned income based on property ownership are rent, received from the ownership of natural resources; interest, received by virtue of owning financial assets; and profit, received from the ownership of capital equipment. As such, unearned income is often categorized as "passive income". Unearned income can be discussed from either an economic or accounting perspective, but is more commonly used in economics. Economics 'Unearned income' is a term coined by Henry George to popularize the economic concept of land rent and 'rent' generally. George modified John Stuart Mill's term 'unearned increment of land' to broaden the concept to include all land rent, not just increa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxpayer Bill Of Rights 2
The Taxpayer Bill of Rights 2 () is an Act of Congress. Among other things, it created the Office of the Taxpayer Advocate. The Office of the Taxpayer Advocate The Office of the Taxpayer Advocate, also called the Taxpayer Advocate Service (TAS), is an office within the Internal Revenue Service (IRS) of the U.S. Department of the Treasury, reporting directly to the Commissioner of Internal Revenue. The ... was run by the Taxpayer Advocate. The function of the advocate was to do the following: * Assist taxpayers in resolving problems with the Internal Revenue Service * Identify areas in which taxpayers have problems in dealings with the Internal Revenue Service * To the extent possible, propose changes in the administrative practices of the Internal Revenue Service to mitigate problems identified under the clause above * Identify potential legislative changes which may be appropriate to mitigate such problems. The Taxpayer Advocate also had to do yearly reports no later than De ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internal Revenue Service Restructuring And Reform Act Of 1998
The Internal Revenue Service Restructuring and Reform Act of 1998, also known as Taxpayer Bill of Rights III (), resulted from hearings held by the United States Congress in 1996 and 1997. The Act included numerous amendments to the Internal Revenue Code of 1986. The bill was passed in the Senate unanimously, and was seen as a major reform of the Internal Revenue Service. Provisions Individuals The Act provides that individuals who fail to provide their taxpayer identification numbers are not allowed to take the earned income credit for the year in which the failure occurs. Individuals are allowed to deduct interest expense paid on certain student loans. The exclusion, from income, of gain on the sale of a principal residence (up to $250,000 for individuals or $500,000 on a joint return) is pro-rated for certain taxpayers. The use of a continuous levy—a levy attaching to both property held on the date of levy and to property acquired after that date—must be specifically a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Federal Taxation Legislation
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two film Literature * ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * ''United'' (Commodores album), 1986 * ''United'' (Dream Evil album), 2006 * ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * ''United'' (Marian Gold album), 1996 * ''United'' (Phoenix album), 2000 * ''United'' (Woody Shaw album), 1981 Songs * "United" (Judas Priest song), 1980 * "United" (Prince Ital Joe and Marky Mark song), 1994 * "United" (Robbie Williams song), 2000 * "United", a song by Danish duo Nik & Jay featuring Lisa Rowe Television * ''United'' (TV series), a 1990 BBC Two documentary series * ''United!'', a soap opera that aired on BBC One from 1965-19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
.jpg "Click for more on -> Ronald Reagan")