Nobody ‘really knows’ the tax code.
It’s an absurdity;
“I just wanted to speak to you about something from the Internal Revenue Code. It is the last sentence of section 509A of the code and it reads: 'For purposes of paragraph 3, an organization described in paragraph 2 shall be deemed to include an organization described in section 501C-4, 5, or 6, which would be described in paragraph 2 if it were an organization described in section 501C-3.' And that's just one sentence out of those fifty-seven feet of books.” -Ronald Reagan
But if you’re confused I’m referring specifically to the change so that, with the exception of the 35% and 37% brackets, the ranges have been modified to be twice the amount for married couples vs filing single.
I’ve read there are still some gotchas for very high income couples itemizing, but I was responding to someone claiming a $50 a month tax change, so I think I safely presumed he’s not taking home over $500k.
Still curious what his effective fed tax rate is, but I guess he has no idea.