Sec. 7501. Liability for taxes withheld or collected.. Sec. 7502. Timely mailing treated as timely filing.-- Sec. 7503. Time for performance of acts where last day falls on Saturday, Sunday, or legal holiday. Sec. 7504. Fractional parts of a dollar... Sec. 7507. Exemption of insolvent banks from tax.. Sec. 7510. Exemption from tax of domestic goods pur- chased for the United States___ Exemption of consular officers and employees of foreign states from payment of internal revenue taxes on imported articles.. Sec. 7514. Authority to prescribe or modify seals. CHAPTER 78. Discovery of Liability and Enforcement of Title. SUBCHAPTER C. Supervision of operations of certain manufacturers. Sec. 8003. Election of chairman and vice chairman. SUBTITLE A. Income taxes. SUBTITLE B. Estate and gift taxes. SURTITLE C. Employment taxes. SUBTITLE D. Miscellaneous excise taxes. SUBTITLE E. Alcohol, tobacco, and certain other excise taxes. SUBTITLE F. Procedure and administration. SUBTITLE G. The Joint Committee on Internal Revenue Taxation. Subtitle A-Income Taxes CHAPTER 1. Normal taxes and surtaxes. CHAPTER 2. Tax on self-employment income. CHAPTER 3. Withholding of tax on nonresident aliens and foreign corporations and tax-free covenant bonds. CHAPTER 4. Rules applicable to recovery of excessive profits on SUBCHAPTER A. Determination of tax liability. SUBCHAPTER B. Computation of taxable income. SUBCHAPTER C. Corporate distributions and adjustments. SUBCHAPTER D. Deferred compensation, etc. SUBCHAPTER E. Accounting periods and methods of accounting. SUBCHAPTER F. Exempt organizations. SUBCHAPTER G. Corporations used to avoid income tax on share- SUBCHAPTER H. Banking institutions. SUBCHAPTER I. Natural resources. SUBCHAPTER J. Estates, trusts, beneficiaries, and decedents. SUBCHAPTER K. Partners and partnerships. SUBCHAPTER L. Insurance companies. SUBCHAPTER M. Regulated investment companies and real estate SUBCHAPTER N. Tax based on income from sources within or with- SUBCHAPTER O. Gain or loss on disposition of property SUBCHAPTER P. Capital gains and losses. SUBCHAPTER Q. Readjustment of tax between years and special SUBCHAPTER R. Election of certain partnerships and proprietor- SUBCHAPTER S. Election of certain small business corporations as 1 PART I-TAX ON INDIVIDUALS Sec. 1. Tax imposed. Sec. 2. Tax in case of joint return or return of surviving spouse. Sec. 5. Cross references relating to tax on individuals. SEC. 1. TAX IMPOSED. (a) RATES OF TAX ON INDIVIDUALS.-A tax is hereby imposed for each taxable year on the taxable income of every individual other than a head of a household to whom subsection (b) applies. The amount of the tax shall be determined in accordance with the following table: If the taxable income is: Not over $2,000--- Over $2,000 but not over $4,000------- Over $4,000 but not over $6,000.-----. Over $6,000 but not over $8,000‒‒‒‒‒‒ Over $8,000 but not over $10,000----Over $10,000 but not over $12,000----Over $12,000 but not over $14,000... Over $14,000 but not over $16,000__---Over $16,000 but not over $18,000-----Over $18,000 but not over $20,000______ Over $20,000 but not over $22,000‒‒‒‒‒ Over $22,000 but not over $26,000...--Over $26,000 but not over $32,000__-Over $32,000 but not over $38,000______ Over $38,000 but not over $44,000__----Over $44,000 but not over $50,000‒‒‒‒‒‒‒ Over $50,000 but not over $60,000------Over $60,000 but not over $70,000.----. Over $70,000 but not over $80,000‒‒‒‒‒ Over $80,000 but not over $90,000__---Over $90,000 but not over $100,000-----Over $100,000 but not over $150,000_____ Over $150,000 but not over $200,000_____ Over $200,000____ The tax is: 20% of the taxable income. $400, plus 22% of excess over $2,000. $840, plus 26% of excess over $4,000. $1,360, plus 30% of excess over $6,000. $1,960, plus 34% of excess over $8,000. $2,640, plus 38% of excess over $10,000. $3,400, plus 43% of excess over $12,000. $4,260, plus 47% of excess over $14,000. $5,200, plus 50% of excess over $16,000. $6,200, plus 53% of excess over $18,000. $7,260, plus 56% of excess over $20,000. $8,380, plus 59% of excess over $22.000. $10,740, plus 62% of excess over $26,000. $14,460, plus 65% of excess over $32,000. $18,360, plus 69% of excess over $38,000. $22,500, plus 72% of excess over $44,000. $26,820, plus 75% of excess over $50,000. $34,320, plus 78% of excess over $60,000. $42,120, plus 81% of excess over $70,000. $50,220, plus 84% of excess over $80,000. $58,620, plus 87% of excess over $90,000 $67,320, plus 89% of excess over $100,000. $111,820, plus 90% of excess over $150,000. $156,820, plus 91% of excess over $200,000. |