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.

...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!