Final answer:
The name of the current income tax code in the United States is The Internal Revenue Code of 1986, a result of major tax reforms that simplified the system and modified tax rates.
Step-by-step explanation:
The current income tax code of the United States of America is The Internal Revenue Code of 1986. This code was the result of significant reforms made during President Reagan's second term and has remained the cornerstone of the U.S. tax system ever since. The Tax Reform Act of 1986 simplified the tax code, reduced the highest tax bracket from 50 percent to 28 percent, raised the minimum rate to 15 percent, and eliminated many tax shelters and deductions that were previously used to avoid taxation.