Talk:Income tax in the United States

From Wikipedia, the free encyclopedia
  (Redirected from Talk:USA income tax)
Jump to: navigation, search
          This article is of interest to the following WikiProjects:
WikiProject Taxation (Rated B-class, High-importance)
WikiProject icon This article is within the scope of WikiProject Taxation, a collaborative effort to improve the coverage of tax-related articles on Wikipedia. If you would like to participate, please visit the project page, where you can join the discussion and see a list of open tasks.
B-Class article B  This article has been rated as B-Class on the project's quality scale.
 High  This article has been rated as High-importance on the project's importance scale.
 
WikiProject U.S. Congress (Rated B-class, Mid-importance)
WikiProject icon This article is within the scope of WikiProject U.S. Congress, a collaborative effort to improve the coverage of the United States Congress on Wikipedia. If you would like to participate, please visit the project page, where you can join the discussion and see a list of open tasks.
B-Class article B  This article has been rated as B-Class on the project's quality scale.
 Mid  This article has been rated as Mid-importance on the project's importance scale.
 
This article is about one (or many) thing(s).
WikiProject United States / Government (Rated B-class, Low-importance)
WikiProject icon This article is within the scope of WikiProject United States, a collaborative effort to improve the coverage of topics relating to the United States of America on Wikipedia. If you would like to participate, please visit the project page, where you can join the ongoing discussions.
B-Class article B  This article has been rated as B-Class on the project's quality scale.
 Low  This article has been rated as Low-importance on the project's importance scale.
Taskforce icon
This article is supported by WikiProject U.S. Government (marked as Mid-importance).
 
edit·history·watch·refresh Stock post message.svg To-do list for Income tax in the United States:

To-do list is empty: remove {{To do}} tag or click on edit to add an item.

Commentary moved from article to talk page[edit]

The following commentary was posted in the article, but really goes here:

Note toward the following information. We need better information on this than a NY Times article. This is not accurate information for those with post graduate degrees included in the upper tax bracket who net about 40% of their take home pay after state and local taxes and a tithe. For example, a doctor working for $335,000 who has 21+ years of education, school loans, and works a high stress job in this article is lumped with those who simply make their money off of investments. Couples who have studied hard, work hard, are paying off loans, and pay a high price during each and every week are lumped in this article in our mindset with millionaires and multimillionaires who tend to make their money off of sheltered investments. There is no "millionaire" tax bracket. Another example is two people with graduate or post-graduate degrees who make enough to fall in the top tax bracket. There is no room in our mentality for these hard working couples, the ideal couples we inspire them to become at each stage of their academic career. We judge those we deem to be "rich" and want to penalize them with left winged articles like the following. It is not an accurate view of the American public. — Preceding unsigned comment added by 76.18.185.31 (talkcontribs)

Needs payroll tax section[edit]

The payroll tax in the US is effectively part of the US income tax system. There needs to be more treatment of it on this page. Unfortunately, I'm not up for the job, but I highly encourage someone else to pick up the slack. Best, LK (talk) 12:02, 20 May 2014 (UTC)

Dear Lawrencekhoo: Yeah, the U.S. federal income tax "interfaces" with the U.S. federal payroll tax system in the sense that a portion of the collection process for federal income tax (namely, the withholding from an employee's paycheck and the payment of the withheld amount by the employer to the IRS) is handled through the "payroll tax" system.
But the Wikipedia article Payroll tax already has a description of the U.S. federal payroll tax system. If we add the same kind of data to this "income tax" article, we would have to take care to avoid unneeded overlap.
Also, we would need to avoid confusion. Federal payroll taxes are not generally classified as "income taxes" -- but there are some arguable exceptions to that statement -- "sort of". For example, the Social Security tax (old-age, survivors, and disability insurance tax) imposed on an employee's compensation under section 3101(a) and withheld from the paycheck is denominated as a tax "on the income" of the individual with respect to wages realized in employment. Same for the Medicare withholding tax under section 3101(b).
U.S. federal income taxes are imposed by Subtitle A of the Internal Revenue Code (which is sections 1 through 1563), while payroll taxes -- plus the withholding provisions for income taxes -- are found in Subtitle C, "Employment Taxes" (which consists of sections 3101 through 3510). The income tax withholding provisions specifically are found in sections 3401 through 3406 in Subtitle C. Those income tax withholding provisions in the "payroll tax" portion of the Internal Revenue Code really have nothing to do with the imposition of the income tax itself, or with the substantive questions about what income is taxable and what is not, what is deductible and what is not, etc.
So, it's "a bit complicated."
Your thoughts?? Famspear (talk) 17:59, 20 May 2014 (UTC)
I think it should be discussed in this article, with the intricacies that you detail above at least touched on. It certainly should have more than a link in the "See also" section. Personally, I feel a small section containing what you said above would be appropriate. BTW, there is an article on FICA, but no article on payroll tax in the United States. LK (talk) 04:07, 21 May 2014 (UTC)
It was complicated before, as a taxpayer can get an income tax credit for overwithholding of FICA (by more than one employer). Now, it's even more complicated, as the 0.9% Medicare surtax, withheld on earned income over $200,000 (from a single employer), but later recalculated based on total earned income over $200,000 (or $250,000 if MFJ). — Arthur Rubin (talk) 03:01, 27 May 2014 (UTC)
I've added appropriate references in the Withholding of tax section, as well as updating for FATCA, and adding links to W-4 and IRS withholding tables. I think the xref to other articles is sufficient, since FICA is not, per se, an income tax.--Oldtaxguy (talk) 20:26, 30 March 2015 (UTC)

What's needed for A class?[edit]

Please list here your thoughts for what it will take to get this to an A class article. I know we need updates for 2015, including reading list. LK above also suggests some coverage (perhaps a paragraph with heading; this is doable) on payroll tax. Other thoughts? Oldtaxguy (talk) 03:51, 27 March 2015 (UTC)Oldtaxguy (talk) 20:08, 30 March 2015 (UTC)

history effective zero tax bracket[edit]

The history section should make it clear that the tax exemption ($ 3-4K ~1913) effectively creates a zero tax bracket.71.243.209.7 (talk) 17:34, 17 June 2015 (UTC)

I suspect that it is clearly understood by most people that any income that has the benefit of a tax exemption is taxed at a zero tax rate, and that this income is in a "zero tax bracket." Famspear (talk) 01:33, 18 June 2015 (UTC)