Treasury Regulations (26 C.F.R.)
26 CFR § 1.1348-1
Fifty-percent maximum tax on earned income.
Section 1348 provides generally that for taxable years beginning after December 31, 1971, the maximum tax rate applicable to the earned taxable income of an individual, estate, or trust is not to exceed 50 percent. In the case of an estate or trust, earned income includes only amounts which constitute income in respect of a decedent within § 1.1348-3(a)(4). For taxable years beginning after December 31, 1970, and before January 1, 1972, the maximum rate is 60 percent. Section 1348 does not apply if the taxpayer chooses the benefits of income averaging under sections 1301 through 1305. Section 1348 does not apply to a married individual who does not file a joint return with his spouse for the taxable year. For purposes of section 1348, an individual's marital status shall be determined under section 153 and the regulations thereunder.
[T.D. 7446, 41 FR 55337, Dec. 20, 1976]
Source: view the official text
In this part (40 sections)
- 1.1313(a)-3 · (a)-3 Final disposition of claim for refund as a…
- 1.1313(a)-4 · (a)-4 Agreement pursuant to section 1313(a)(4) as a…
- 1.1313(c)-1 · (c)-1 Related taxpayer.
- 1.1314(a)-1 · (a)-1 Ascertainment of amount of adjustment in year of…
- 1.1314(a)-2 · (a)-2 Adjustment to other barred taxable years.
- 1.1314(b)-1 · (b)-1 Method of adjustment.
- 1.1314(c)-1 · (c)-1 Adjustment unaffected by other items.
- 1.1321-1 · Involuntary liquidation of lifo inventories.
- 1.1321-2 · Liquidation and replacement of lifo inventories by acquiring…
- 1.1331-1 · Recoveries in respect of war losses.
- 1.1332-1 · Inclusion in gross income of war loss recoveries.
- 1.1333-1 · Tax adjustment measured by prior benefits.
- 1.1334-1 · Restoration of value of investments.
- 1.1335-1 · Elective method; time and manner of making election and…
- 1.1336-1 · Basis of recovered property.
- 1.1337-1 · Determination of tax benefits from allowable deductions.
- 1.1341-1 · Restoration of amounts received or accrued under claim of…
- 1.1342-1 · Computation of tax where taxpayer recovers substantial…
- 1.1346-1 · Recovery of unconstitutional taxes.
- 1.1347-1 · Tax on certain amounts received from the United States.
- 1.1348-1 · Fifty-percent maximum tax on earned income.
- 1.1348-2 · Computation of the fifty-percent maximum tax on earned…
- 1.1348-3 · Definitions.
- 1.1361-0 · Table of contents.
- 1.1361-1 · S corporation defined.
- 1.1361-2 · Definitions relating to S corporation subsidiaries.
- 1.1361-3 · QSub election.
- 1.1361-4 · Effect of QSub election.
- 1.1361-5 · Termination of QSub election.
- 1.1361-6 · Effective date.
- 1.1362-0 · Table of contents.
- 1.1362-1 · Election to be an S corporation.
- 1.1362-2 · Termination of election.
- 1.1362-3 · Treatment of S termination year.
- 1.1362-4 · Inadvertent terminations and inadvertently invalid elections.
- 1.1362-5 · Election after termination.
- 1.1362-6 · Elections and consents.
- 1.1362-7 · Effective dates.
- 1.1362-8 · Dividends received from affiliated subsidiaries.
- 1.1363-1 · Effect of election on corporation.