CCH predicted that the indexing of many features of the Tax Code to adjust for inflation will bring taxpayers some relief next year as the company released its 2008 tax rate projections.
The tax and accounting information provider predicts that a married couple filing jointly with a total taxable income of $100,000 will pay $160 less in income taxes in 2008 than on the same income for 2007. A single filer with taxable income of $50,000 would save $80 next year due to the tax adjustments.
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