The Joint Committee on Taxation, a nonpartisan Congressional advisory group, has released its latest version of an overview of the federal tax system. The document specifies that there are four main types of federal tax: 1) income tax on individuals, estates, trusts and corporations, 2) payroll tax on wages, 3) estate tax, gift tax and generation-skipping transfer tax and 4) excise tax on goods and services. The overview describes all tax laws in effect for 2022. But it generally doesn’t include references to provisions that may be in effect in future years or may be terminated after 2022. For details, download the full document: https://bit.ly/3ADEUjV
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