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).

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