We will be glad to help and assist you in finding the crossword clues for the following clue: Tax-collecting org.
looking at this crossword definition, it has 18 letters.
for better and easier way of searching the for a crossword clue, try using the search term “Tax-collecting org crossword” or “Tax-collecting org crossword clue” while searching and trying to find help in finishing your crosswords. Here are the possible answers for Tax-collecting org.
We hope you found what you needed!
If you are still unsure with some definitions, don’t hesitate to search for them here in our site using the search box on top.
Possible Answers:
IRS.
Last seen on: Eugene Sheffer – King Feature Syndicate Crossword – Nov 7 2022
Random information on the term “IRS”:
The alternative minimum tax (AMT) is a tax imposed by the United States federal government in addition to the regular income tax for certain individuals, estates, and trusts. As of tax year 2018, the AMT raises about $5.2 billion, or 0.4% of all federal income tax revenue, affecting 0.1% of taxpayers, mostly in the upper income ranges.
An alternative minimum taxable income (AMTI) is calculated by taking the ordinary income and adding disallowed items and credits such as state and local tax deductions, interest on private-activity municipal bonds, the bargain element of incentive stock options, foreign tax credits, and home equity loan interest deductions. This broadens the base of taxable items. Many deductions, such as mortgage home loan interest and charitable deductions, are still allowed under AMT. The AMT is then imposed on this AMTI at a rate of 26% or 28%, with a much higher exemption than the regular income tax.
The Tax Cuts and Jobs Act of 2017 (TCJA) reduced the fraction of taxpayers who owed the AMT from 3% in 2017 to 0.1% in 2018, including from 27% to 0.4% of those earning $200,000 to $500,000, from 61.9% to 2% of those earning $500,000 and $1,000,000.