Economic Growth and Tax Relief Reconciliation Act of 2001

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Economic Growth and Tax Relief Reconciliation Act of 2001

Legislation in the United States that reduced marginal tax rates for most American taxpayers. For example, it reduced the lowest bracket from 15% to 10% and the highest from 39.6% to 35%. It also simplified tax consequences of gifts and retirement plans. Proponents of EGTRRA claim that such policies spur economic growth. Critics point to lost government revenues and claim that the tax cuts primarily benefited the wealthy.
References in periodicals archive ?
The 2001 tax act phased out the state death tax credit provided in I.
The 2001 tax act raised the estate tax exemption amount and gradually decreased the top tax rate for the years 2002 to 2009.
Under the 2001 Tax Act, the 15 percent regular income tax rate bracket was increased for a married couple filing a joint return to twice the size of the corresponding bracket for an unmarried individual filing a single return.
After 2004, the child tax credit will revert to the incremental increases in the credit provided under the 2001 Tax Act (e.
Thanks to the 2001 tax act, the dollar limit on contributions to 457(b) plans increased from $8,500 in 2001 to $11,000 in 2002.
The 2001 Tax Act increased the amount of the child tax credit to $1,000, over a ten-year period.
IN THE 2001 TAX ACT CONGRESS INCLUDED A NUMBER of expanded and improved education tax incentives.
TAX CODE has become very kid-friendly since the 2001 Tax Act.
Riverwoods, IL) has published Protecting and Preserving Wealth After the 2001 Tax Act, a new book whose editorial draws on interviews with 32 planners in a variety of practices.
The program concludes with an overview of the new developments contained in the 2001 Tax Act.
Because of the phase-in, phase-out aspects of the 2001 tax act, a calendar will be an essential tax-planning tool for anyone who wants to remain on top of these changing laws.
The massive 2001 Tax Act made numerous changes to the tax law.