You are currently browsing the IRS Tax Talk weblog archives for October, 2011.
20. October 2011 by admin.
Social Security benefits to go up 3.6% in 2012
Social Security payments will rise 3.6% in January, the first cost-of-living adjustment in three years. However, an expected increase in Medicare Part B premiums is expected to cancel out at least some of the COLA. CNNMoney.com
Posted in Retirement Accounts, Newsletter Topics, Income Tax, General | 1 Comment »
19. October 2011 by admin.
IRS statistics now available for 2009 tax returns.
The highest earning 1% of all U.S. individual taxpayers paid 36.7% of all federal income taxes.
The highest earning 5% paid 58.7%.
The bottom 50% paid only 2.25% of total federal income tax.
Posted in Newsletter Topics, Retirement Accounts, International Taxation, Sub S Corporations, Income Tax, LLC's, General | 1 Comment »