Income tax in the United States These treaties reduce the chance of double taxation by allowing each country to fully tax its citizens and residents and reducing the amount the other country can tax them. Generally the treaties provide for reduced rates of tax on investment income and limits as to which business income can be taxed. The treaties each define which taxpayers can benefit from the treaty. The United States social insurance system is funded by a tax similar to an income tax. Social Security tax of 6.2% is imposed on wages paid to employees. The tax is imposed on both the employer and the
Working Party on the Reorganisation of the Income Tax Act 1976 established initially to oversee the rewrite process, but from 2004 it was also tasked with determining whether there are errors (or "unintended legislative changes") in the rewriting of the Income Tax Acts. The Panel was disestablished in 2014. Its chairs were Colin Blair (1995–2003), Sir Ivor Richardson (2003-08) and David McLay (2008–14). Working Party on the Reorganisation of the Income Tax Act 1976 The Working Party on the Reorganisation of the Income Tax Act 1976 was a committee appointed by the New Zealand government to advise on the appropriate reorganisation of the income tax legislation. The Working Party was set