federal tax income in united states
Write a three to six page paper on how the new tax law changed personal income taxes. . Please review the instructions that follow, the rubric attached to this assignment and the writing hints in the Introductory module of this course before you begin writing.
The specifications of the paper are as follows:
1. This must be a four to six page paper. The Works Cited page will be considered on page. Put another way, your paper must be three complete pages of writing and have a works cited page to satisfactorily complete this assignment.
2. Three complete pages of writing means three complete pages of writing. A paper consisting of two and two thirds pages and a works cited page will be penalized.
3. Your paper should have (a) a one-inch margin all around; (b) be double-spaced; and have an eleven point font. Fonts less than 11 point will result will be penalized.
4. The paper must be submitted via Canvas. I will NOT accept papers sent via email, g-drive sharing, or hard copy. Hundreds of students in my classes have figured out how to submit their paper on time via Canvas. I suggest you visit the Helpdesk if you have any problems.
5. Do not wait until the last day to submit your paper. I will not entertain excuses such as ” I had not connectivity that day” or “I don’t know why but my paper rejected”. It is your responsibility to get it there on time.
Solution Preview
Federal Tax Income in United States
In 2017, Congress passed the tax reform legislation that is expected to affect most taxpayers (Williams). The largest piece of tax legislation that was imposed in more than three decades is expected to affect most taxpayers, but it will not take effect until 2018. The initial tax legislation had seven tax rackets for the income earners, all of which have been retained (Turbo Tax). However, a number of the tax rates have been lowered for the different brackets (Williams). The legislation that took effect on January 2018 sough to cut the tax on some brackets, an aspect that will positively impact some taxpayers. Despite this, some tax brackets remained relatively the same thereby highlighting that there was minimal impact on some taxpayer’s income rates (Turbo Tax). The paper outlines the impact of the new federal tax on personal income taxes.
(1,228 words)