TaxMama.Com
line line line
E-Mail
This Page To A Friend
Your email:
Your name:
TO email:
line
line
IRS News


Working Families
Tax Relief Act of 2004


Courtesy of David & Mary Mellem, EAs

Extension of Family Tax Provisions

A. Child tax credit
­ Increased to $1,000 per qualifying child.
This keeps the $1,000 level through 2010.


B. Marriage penalty relief

- Increased standard deduction continues at double the single rate through 2010.
- Increased 15% tax bracket ceiling continues at double the single rate through 2010.


C. 10% rate bracket

­ The $7,000 (single) and $14,000 (Married filing jointly) levels continue through 2007 before they decrease back to the former levels ($6,000-Single, $12,000-MFJ).

To read the rest, please click here!


Courtesy of David & Mary Mellem, EAs
Published TaxMama.com 10.1.04