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2. What Are the 2020-2021 Federal Tax Brackets and Tax Rates? - AOL

   www.aol.com/finance/2020-2021-federal-tax...

   The standard deduction for joint filers increases by $300 over 2020 levels to $25,100 in 2021. ... The 2021 maximum Earned Income Credit will be $6,728 ... What Are the 2020-2021 Federal Tax ...

3. What Is a Tax Deduction and How Do Tax Deductions Work? - AOL

   www.aol.com/tax-deduction-tax-deductions...

   Standard Deduction for Tax Years 2020 and 2021. Filing Status. Deduction for Tax Year 2020. Deduction for Tax Year 2021. Single. $12,400. $12,550. Married, filing jointly

4. Income tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Income_tax_in_the_United...

   As of 2010, 68.8% of federal individual tax receipts, including payroll taxes, were paid by the top 20% of taxpayers by income group, which earned 50% of all household income. The top 1%, which took home 19.3%, paid 24.2% whereas the bottom 20% paid 0.4% due to deductions and the earned income tax credit.

5. Corporate tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Corporate_tax_in_the...

   Since January 1, 2018, the nominal federal corporate tax rate in the United States of America is a flat 21% following the passage of the Tax Cuts and Jobs Act of 2017. State and local taxes and rules vary by jurisdiction, though many are based on federal concepts and definitions. Taxable income may differ from book income both as to timing of ...

6. Taxation in the United States - Wikipedia

   en.wikipedia.org/wiki/Taxation_in_the_United_States

   Politics portal. v. t. e. The United States has separate federal, state, and local governments with taxes imposed at each of these levels. Taxes are levied on income, payroll, property, sales, capital gains, dividends, imports, estates and gifts, as well as various fees. In 2020, taxes collected by federal, state, and local governments amounted ...

7. Tax Deductions Explained (and Common Ones You Could Claim) - AOL

   www.aol.com/tax-deductions-explained-common-ones...

   Beginning in 2018, you can deduct state and local taxes up to $10,000 or $5,000 if you’re married filing separately. Those caps are for state and local income, property and sales taxes combined ...