Question

In terms of timing as to any one year, the Tax Tables are available after the Tax Rate Schedules.

1) True
2) False

Answer 1

The statement is false; the IRS releases both the Tax Rate Schedules and the Tax Tables around the same time each year for taxpayers to determine their tax liabilities.

Step-by-step explanation:

The statement false is the correct answer to the question of whether the Tax Tables are available after the Tax Rate Schedules. The IRS typically releases both the Tax Rate Schedules and the Tax Tables around the same time each year to provide taxpayers with the necessary information to calculate their taxes.

The Tax Rate Schedules outline the tax rates applied to different income levels, while the Tax Tables offer a simplified way for individuals to find their tax liability based on their taxable income. Both the Tax Rate Schedules and Tax Tables are essential tools for taxpayers and are made available as part of the Forms and Publications by the Internal Revenue Service.

In terms of timing as to any one year, the Tax Tables are available after the Tax Rate Schedules.

The Tax Rate Schedules indicate how much tax a must be paid for a given level of taxable income, whereas the Tax Tables provide the specific amount of tax that needs to be paid based on the taxable income shown in the Tax Rate Schedules.