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What would happen if the IRS was abolished?

Annual tax returns and W-2s would cease to exist. People who make their money on the black market would be taxed at the same rate as anyone else. The enormous compliance costs currently associated with filing ones annual taxes would be cut docHubly.

What are the tax brackets for 2011?

Federal income tax brackets As it stands now, there will be no 10% bracket for 2011, and the remaining bracket rates will return to their original 2001 levels: 15%, 28%, 31%, 36%, and 39.6%.

How do I pay my Delaware state taxes?

Visit to make an estimated tax payment by selecting the link on the right side of the portal login page titled Submit and Estimated Payment. You can file a Delaware Personal Income Tax return by selecting the link under Individuals titled File a Personal Income Tax Return.

What are the largest sources of revenue for the federal government quizlet?

Personal income taxes and Social Security taxes are the largest sources of federal government revenues.

Where does the largest segment of revenue for the federal government come from?

Individual income taxes are the largest single source of federal revenues, constituting over one-half of all receipts. As a percentage of GDP, individual income taxes have ranged from 6 to 10 percent over the past 50 years, averaging 8 percent of GDP. Total tax liabilities among individuals vary considerably by income.

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