Happy 25th Anniversary Tax Reform Act of 1986

By | October 22nd, 2011|Categories: Potpourri of Tax Topics|Tags: |

Twenty-five years ago today, October 22, 1986, President Reagan signed a tax reform bill into law.  This reform bill is still in place as the basis for our current income tax system.  From Forbes: It curbed special deductions, exclusions and breaks (tax expenditures, in tax speak) and chopped the top individual income tax rate from 50% [...]