One of the major changes brought about by the Tax Reform Act of 1986 was:
A) the abolition of the corporate income tax.
B) the abolition of import duties on goods coming from Canada and Mexico.
C) a restructuring of the federal personal income tax to make it a proportional tax.
D) a significant reduction in the number of tax brackets for the federal personal income tax.
Correct Answer:
Verified
Q38: The distinction between a progressive, a proportional,
Q39: In Up for Debate: "Should the Federal
Q40: The policy of adjusting income tax brackets
Q41: Tax bracket indexation refers to the:
A) higher
Q42: The adjusting of federal personal income tax
Q44: The Tax Reform Act of 1986 reduced:
A)
Q45: It was pointed out in Application 6.1,
Q46: According to Application 6.1, "A Chronology of
Q47: The term "tax base"refers to the:
A) legislation
Q48: A tax base is the:
A) object on
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