The Individual Income Tax is still the largest source of revenue to the federal government; in fiscal 2014 it accounted for 40 percent of all federal revenue. But huge swaths of Americans don’t pay personal income taxes. In fact, Congress treats Americans with comparable incomes quite differently: some pay income taxes while others don’t. One way to throw light on such glaring inequalities is by figuring (preparing) the tax returns for various incomes of earners who meet certain profiles, such as being unmarried. With an income of $110,299, it is possible that an unmarried taxpayer could owe the IRS $21,064 in personal income taxes for 2015. That income tax bill is the maximum provided for in the 2015 Tax Table. To verify that, click on the instructions for the 2015 1040 form, go to page 88, and look at last line in the Tax Table. That line applies to the above income minus the standard deduction of $10,300, and it means that our taxpayer has an effective tax rate for...(Read Full Article)