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Internal Revenue Code

3 amendmentstracked · Side-by-side comparison of previous and amended text

View amendments for other laws:

Civil Rights Act of 1964Clean Air ActSocial Security Act of 1935Immigration and Nationality Act of 1965Internal Revenue CodeAmericans with Disabilities Act of 1990Voting Rights Act of 1965Fair Labor Standards Act of 1938Health Insurance Portability and Accountability Act of 1996Affordable Care Act of 2010Endangered Species Act of 1973Sherman Antitrust Act of 1890National Labor Relations Act of 1935Clean Water Act of 1972Freedom of Information Act of 1966Dodd-Frank Wall Street Reform Act of 2010USA PATRIOT Act of 2001Fair Housing Act of 1968Telecommunications Act of 1996Homestead Act of 1862GI Bill (Servicemen's Readjustment Act of 1944)
October 22, 1986

Tax Reform Act of 1986 reduced individual tax brackets from 14 to 2 and lowered the top rate from 50% to 28%.

Previous

Individual income tax rates range from 11% to 50% across 14 tax brackets.

Amended

Individual income tax rates are simplified to two brackets of 15% and 28%, with the top marginal rate reduced from 50% to 28% and numerous deductions and tax shelters eliminated.

August 10, 1993

Omnibus Budget Reconciliation Act of 1993 added a new top individual tax rate of 39.6%.

Previous

The top individual income tax rate is 31%.

Amended

The top individual income tax rate is increased to 39.6% for taxable income exceeding $250,000, and the corporate tax rate is increased to 35%.

December 22, 2017

Tax Cuts and Jobs Act reduced the corporate tax rate from 35% to 21% and temporarily lowered individual rates.

Previous

The corporate income tax rate is 35% and individual income tax rates range from 10% to 39.6% across seven brackets.

Amended

The corporate income tax rate is permanently reduced to 21% and individual income tax rates are temporarily reduced to a range of 10% to 37%, with the standard deduction nearly doubled through 2025.