Final answer:
The current Internal Revenue Code is the Internal Revenue Code of 1986.
Step-by-step explanation:
The current Internal Revenue Code is the Internal Revenue Code of 1986. The Tax Reform Act of 1986 was a sweeping tax reform law that simplified the tax code and eliminated some tax shelters. It reduced the top tax rates for wealthy individuals from 50 percent to 28 percent, while raising the minimum tax rate to 15 percent.