Family Finances

What will tax reform really mean when Americans reach the bottom line on their 1040 forms? In a study for TIME, the accounting firm of Coopers & Lybrand used computer models to calculate the burden for seven hypothetical families under the current code and under the proposed law for 1988, the first year that most of the changes will become fully effective. These are rough figures, since the fine-tuning of the measure has not yet been completed.


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