The existing laws covering libel in this country are thought by many to be inadequate. Under the existing conditions many children are going hungry. More examples
To determine their payment using the income formula, subtract $20,700 (filing threshold) from $70,000 (2016 household income). The result is $49,300. Two and a half percent of $49,300 equals $1,232.50.
The IRS thresholds that apply to most taxpayers are for people who are not claimed as dependents. The threshold for a single taxpayer is $10,150. The amount increases to $11,700 at age 65. Couples filing a joint return hit their threshold at $20,300, plus another $1,200 for each spouse age 65 or older.