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sam5
Level 1
03-17-2021
04:17 PM
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what is the or why is the difference for marginal tax rate verses the effective tax rate what are these terms defining on this page
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IntuitTylor
Intuit Alumni
03-17-2021
05:29 PM
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Marginal Tax Rates refers to the tax imposed on the next dollar earned and is the highest tax rate imposed on your income. Marginal Tax Rates is also known as Ordinary Income Tax rates and can be found in the Tax Year's 1040 Form Instructions or online through various websites. The effective tax rate is the actual percentage of taxes you pay on all your taxable income.
