Tax Reform Act 1986 financial definition of Tax Reform Act 1986. Tax Reform Act 1986 finance term by the Free Online Dictionary.

Tax Reform Act of 1986

A 1986 law involving a major overhaul of the US tax code.

Tax Reform Act of 1986

Legislation in the United States dictating the reduced marginal tax rates, the number of tax brackets, and the deductions and tax shelters that individuals can have. It also increased corporate tax rates and equalized capital gains tax and income tax rates. It was designed to be revenue neutral; this was accomplished by reducing deductions to offset the lower tax rates. It also changed incentives; for example, it increased the home mortgage interest deduction to encourage home ownership. While proponents hail this Act as a major tax cut, critics maintain that it did little to accomplish its main goal of simplifying the tax code. See also: Economic Recovery Tax Act of 1981.

Tax Reform Act of 1986

Tax legislation that significantly reduced marginal income tax rates for individuals and corporations as well as curtailed many deductions and eliminated numerous preference items. The Act was designed to be revenue-neutral and, in general, it benefited high-income and low-income individuals and corporations that do not spend large amounts of money on long-lived equipment. Although an original goal had been to simplify the tax system, no simplification was evident in the final legislation.

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General Utilities Doctrine
income averaging
Look-Thru
MACRS
Modified Accelerated Cost Recovery System
real estate mortgage investment conduit
REMIC
Tax Haven Affiliate
Vesting
Zero Bracket Amount
Zero-Bracket Amount

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Tax Reform Act 1976

Tax Reform Act 1986

Tax Reform Act of 1976
Tax Reform Act of 1984
Tax Reform Act of 1986
Tax Reform Act of 1986
Tax Reform Act of 1993
Tax Reform Bill
Tax Reform Bill
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Tax Relief Extension Act of 1999
Tax Relief Reconciliation Act of 2003
Tax Remission for Export Office
Tax Reporting System
Tax Research Network
Tax residence
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Tax Retirement Fund Association
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Tax Reform Act of 1986 (redirected from Tax Reform Act 1986)

Tax Reform Act of 1986
(redirected from Tax Reform Act 1986)