Tax Reform Act of 1986

E50001

The Tax Reform Act of 1986 was a landmark U.S. federal law that overhauled the tax code by lowering rates, broadening the tax base, and eliminating many deductions and shelters.

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AI-generated illustration of Tax Reform Act of 1986

This AI-generated illustration was produced by black-forest-labs/FLUX.2-dev (1024x1024) from a prompt written by openai/gpt-oss-120b from the entity's label + description.

Prompt

Generate an image of the Tax Reform Act of 1986 (The Tax Reform Act of 1986 was a landmark U.S. federal law that overhauled the tax code by lowering rates, broadening the tax base, and eliminating many deductions and shelters.)

All labels observed (1)

Label Occurrences
Tax Reform Act of 1986 canonical 13

How this entity was disambiguated

Statements (49)

Predicate Object
instanceOf United States federal statute ⓘ
tax reform law ⓘ
affects alternative minimum tax ⓘ
capital gains taxation ⓘ
corporate income tax ⓘ
corporate tax preferences ⓘ
depreciation rules ⓘ
individual income tax ⓘ
itemized deductions ⓘ
passive activity losses ⓘ
tax shelters ⓘ
amends Internal Revenue Code of 1954 ⓘ
associatedWith Reagan administration ⓘ
broadens tax base for corporations ⓘ
tax base for individuals ⓘ
changes capital gains tax treatment ⓘ
considered landmark tax reform in the United States ⓘ
country United States ⓘ
creates Internal Revenue Code of 1986 ⓘ
eliminates investment tax credit ⓘ
many corporate tax shelters ⓘ
many individual tax shelters ⓘ
enactedBy 99th United States Congress ⓘ
increases personal exemptions ⓘ
standard deduction ⓘ
introduces broader individual alternative minimum tax ⓘ
jurisdiction United States federal government ⓘ
legislativeProcess bipartisan negotiation in Congress ⓘ
limits itemized deductions ⓘ
passive activity loss deductions ⓘ
longTitle An Act to reform the internal revenue laws of the United States ⓘ
modifies depreciation schedules ⓘ
policyGoal increase perceived fairness of the tax system ⓘ
maintain overall federal revenue levels ⓘ
reduce economic distortions from tax preferences ⓘ
policyType revenue-neutral tax reform ⓘ
primaryObjective broaden the tax base ⓘ
eliminate many tax shelters ⓘ
lower statutory tax rates ⓘ
simplify the federal income tax code ⓘ
publicLawNumber Public Law 99-514 ⓘ
reduces number of individual income tax brackets ⓘ
shortTitle Tax Reform Act of 1986 ⓘ
signedBy Ronald Reagan ⓘ
signingDate 1986-10-22 ⓘ
topCorporateRateAfterReform 34 percent ⓘ
topCorporateRateBeforeReform 46 percent ⓘ
topIndividualRateAfterReform 28 percent ⓘ
topIndividualRateBeforeReform 50 percent ⓘ

How these facts were elicited

Referenced by (13)

Full triples — surface form annotated when it differs from this entity's canonical label.

99th United States Congress → enacted → Tax Reform Act of 1986 ⓘ
Reaganomics → implementedThrough → Tax Reform Act of 1986 ⓘ
Low-Income Housing Tax Credit → enactedBy → Tax Reform Act of 1986 ⓘ
Tax Reform Act of 1986 → shortTitle → Tax Reform Act of 1986 ⓘ
Dan Rostenkowski → notableWork → Tax Reform Act of 1986 ⓘ
Public Law 99-514 → officialName → Tax Reform Act of 1986 ⓘ
TRA86 → fullName → Tax Reform Act of 1986 ⓘ
TRA86 → shortTitle → Tax Reform Act of 1986 ⓘ
99-514 → hasTitle → Tax Reform Act of 1986 ⓘ
99-514 → hasShortTitle → Tax Reform Act of 1986 ⓘ
Economic Recovery Tax Act of 1981 → followedBy → Tax Reform Act of 1986 ⓘ
subject linked to: ERTA of 1981