zero-bracket amount


Former tax bracket eliminated in 1986 that previously determined the standard deduction portion of income - which is not taxed - for taxpayers who select not to itemize deductions. Taxpayers were able to subtract the zero-bracket amount from their adjusted gross income to arrive at their taxable income. The Tax Reform Act of 1986 replaced the zero-bracket amount with a standard deduction amount.
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zero-bound interest rate zero-coupon bond