The Tax Reform Act of 1986 was a massive reboot of the income tax system.
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Then came the Tax Reform Act of 1986 (25th birthday coming up on October 22).
When the Tax Reform Act of 1986 was enacted, I was all over that thing.
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Tax Reform Act of 1986 was supposed to be revenue neutral, decreasing individual taxes yet increasing corporate ones.
The Tax Reform Act of 1986 did have a consensus principle behind it.
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The Tax Reform Act of 1969 was the start of the hole closing project that began accelerating early in my career.
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Back in the good old days (i.e. before the Tax Reform Act of 1986), interest that you paid was generally deductible.
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The latter actually did pass and went on to become Public Law 99-514, otherwise known as the Tax Reform Act of 1986.
In the Tax Reform Act of 1986, he reduced the federal income tax rate for "folks who make less" all the way down to 15%.
Code Section 469 was part of the Tax Reform Act of 1986 and was meant to drive a stake into the heart of tax shelters.
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The days when ordinary folks could use commercial real estate as a tax shelter are long gone, ended by the tax reform act of 1986.
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Mr. Malpass, a deputy assistant Treasury secretary and legislative manager for the 1986 Tax Reform Act in the Reagan administration, is president of Encima Global LLC.
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It will probably not be on the scale of the Tax Reform Act of 1986, but we had a couple of months to react to that one.
They might support a restructuring that ends some tax preferences and lowers rates but keeps total revenues about where they are (ala the Tax Reform Act of 1986).
That agreement led to the tax reform act of 1986.
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So it looks like the next reboot will not be nearly as much fun as the Tax Reform Act of 1986 when it comes to the rate reduction part.
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It allows taxpayers in states with no income tax to deduct sales taxes from their federal tax bill (something that Ronald Reagan's 1986 Tax Reform Act got rid of).
As someone who got into the tax accounting business just after the Tax Reform Act of 1986, I can say with confidence that the transitional issues will be stratospherically complex.
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The Tax Reform Act of 1986 brought that to a crashing halt with the enactment of the passive activity loss rules (Section 469) which was a blow to real estate values.
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It never ceases to amaze me that 25 years after the Tax Reform Act of 1986, there is still a significant amount of appreciated property inside closely held C corporations.
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If capital gains and dividends were fully taxed under the AMT, as they used to be before the Tax Reform Act of 1986, the Buffett Rule would be satisfied without a new levy.
Studying America's 1986 Tax Reform Act, which lowered the top marginal rate from 50% to 28%, Martin Feldstein, a Harvard economist, found that taxable income among high earners adjusted, dollar-for-dollar, with tax rates.
The Tax Reform Act of 1986 basically cleaned out bloated tax benefits, like the Investment Tax Credit, as a way to generate enough revenue to allow for a significant lowering of marginal tax rates.
For example, the Tax Reform Act of 1986 reduced the top personal income tax rate to 28% from 50%, and collapsed the number of tax brackets to 4 from 15 while leaving projected revenues unchanged.
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He eventually rolled back some of his own tax cuts and in his second term, pushed through some of the most significant tax reform of the last century, the Tax Reform Act of 1986.
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The historic Tax Reform Act of 1986 that Republican icon Ronald Reagan pushed through had a top tax rate for long term gains and for dividends of 28%, the same rate as for ordinary wage income.
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Lu Gauthier, whose Boston Tax Institute provides the best tax CPE value in New England if not the world, once remarked that the Tax Reform Act of 1969 cut the value of his LLM in taxation in half.
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That would produce a huge burst of revenue. (Capital gains doubled in the second half of 1986 once it became clear that the Tax Reform Act was going to raise rates starting in 1987 as people sped up realizations to avoid the pending rate increase.) Pete acknowledges that this would work, but sees no political prospect for a rate increase in the House.
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