Topic-IndividualIncometaxComputation.docVIP

McGraw-Hill’s Taxation, by Spilker et al. ? The McGraw-Hill Companies, Inc., 2010  PAGE 18 Topic 7 Individual Income Tax Computation and Tax Credits Discussion Questions 1. What is a tax bracket? What is the relationship between filing status and the width of the tax brackets in the tax rate schedule? A tax bracket is a range of taxable income that is taxed at a specified tax rate. Because only the income in the particular range is taxed at the specified rate, tax brackets are often referred to as marginal tax brackets or marginal tax rates. The level and width of the brackets depend