1、Congressional Research Service The Library of Congress Washington, D.C. 20540 TAX REFORM ACT OF 1986: PUBLIC L A W 99-514 lP267T On October 22, 1986, President Reagan signed into law H.R. 3838, the Tax Refom Act of 1986, P.L. 99-514. This tax revision measure establishes two tax rate brackets of 15
2、and 28 percent f o r individuals and a corporate income tax r a t e of 34 percent, to take e f f e c t i n tax year 1988. For tax year 1987 there w i l l be a blend of old and new rates. This Info Pack includes a summary of t h e new law and provides information on the followipg topics: General prov
3、ision individuals. . . . . . . . .p. 1 Treatment of r e a l second homes. . . . . . . .p. 10 Retirement savings provisions and pensions (includes IRAs , 401 (k)s, vesting, and distribution). . . . .p. 14 Corporate tax change overview. 25 The enclosed CRS report on the e f f e c t s of the new t a x
4、law (IB87010) lists other reports on special topics. Please note that the IRS w i l l be issuing new regulations on many of t h e laws provisions. W e cannot answer i n d e t a i l specific questions regarding an individuals tax l i a b i l i t y ; one may need t o consult with a nearby IKS office,
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