752, 753;
Working Families Tax Relief Act of 2004, Pub.
This supplement integrates the applicable parts of the American Jobs Creation Act and the
Working Families Tax Relief Act, both of 2004, into The tax law of charitable giving, 3d ed (published in 2005).
As established by the
Working Families Tax Relief Act of 2004, the uniform definition of a child (UDOC) provides a definition for five different child-based benefits.
In general, AB 115 conforms California tax law with the Economic Growth and Tax Relief Reconciliation Act of 2001; the Job Creation and Worker Assistance Act of 2002; the Jobs and Growth Tax Relief Reconciliation Act of 2003; the Medicare Prescription Drug, Improvement, and Modernization Act of 2003; the
Working Families Tax Relief Act of 2004; and the American Jobs Creation Act of 2004.
The
Working Families Tax Relief Act of 2004 (WFTRA) goes a long way in remedying this confusion by enacting a uniform definition of a qualifying child.
Beginning with tax year 2005, the
Working Families Tax Relief Act of 2004 (6) standardized the definition of a child for five common tax benefits: head of household filing status, dependent exemptions for children, the dependent care credit, the earned income tax credit, and the child and additional child tax credits.
THE
WORKING FAMILIES TAX RELIEF ACT OF 2004 extends the alternative minimum tax exemption of $58,000 (married filing jointly) and $40,250 (single) through 2005.
The American Jobs Creation Act of 2004 and the
Working Families Tax Relief Act of 2004 have been summarized including some of the highlights, emphasizing the expanded opportunities for small-business owners.
However, the
Working Families Tax Relief Act of 2004 extended the R&D credit through December 31, 2005.
Current federal tax laws allow taxpayers to claim a one-time clean-burning-fuel deduction of $2,000 on form 1040 for certified vehicles under the
Working Families Tax Relief Act.
In 2004, Congress extended many of the individual tax cuts through 2010 in the
Working Families Tax Relief Act of 2004 (P.
PPC's Guide to 2004 Tax Legislation addresses the numerous changes made by the
Working Families Tax Relief Act of 2004 and the American Jobs Creation Act of 2004.
