Jobs and Growth Tax Relief Reconciliation Act of 2003 PDF Download
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Author:
Publisher: CCH Incorporated
ISBN: 9780808009917
Category : Law
Languages : en
Pages : 212
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Book Description
"Code, committee reports, explanation and analysis of 2003 tax legislation."
Author:
Publisher: CCH Incorporated
ISBN: 9780808009917
Category : Law
Languages : en
Pages : 212
Get Book Here
Book Description
"Code, committee reports, explanation and analysis of 2003 tax legislation."
Author:
Publisher: CCH Incorporated
ISBN: 9780808009924
Category : Income tax
Languages : en
Pages : 150
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Book Description
Author: Sidney Kess
Publisher:
ISBN:
Category : Capital gains tax
Languages : en
Pages : 39
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Book Description
Author:
Publisher:
ISBN:
Category : Income tax
Languages : en
Pages : 68
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Book Description
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
The Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA; P.L. 10827) accelerated the implementation of certain tax reductions that were originally enacted as part of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA; P.L. 107-16). The 2003 act reduced marginal income tax rates effective through 2010 and reduced taxes on dividend and capital gains income effective through the end of 2008. Several of these provisions will expire at the end of 2004, including the increase in the child tax credit, the expansion of the 10% tax bracket, the expansion of the 15% tax bracket and standard deduction for joint returns, the increase in the alternative minimum tax (AMT) exemption, and the tax incentives for business. During this session, Congress faces the issue of whether to extend or make permanent these expiring tax provisions. Extending these expiring provisions would be costly, reducing revenue by around $634 billion over the FY2005 through FY2010 time period. On April 28, 2004, the House approved H.R. 4181, legislation making the JGTRRA marriage tax relief provisions permanent. On May 5, the House approved H.R. 4427, legislation extending for one year the JGTRRA increase in the AMT exemption. On May 13, the House passed H.R. 4275, legislation permanently extending the JGTRRA increase in the 10% tax bracket. During the week of May 17, the House is scheduled to consider H.R. 4539, legislation that would permanently extend the increase, to $1,000, in the child tax credit. This report will be updated as legislative action warrants and new revenue data become available.
Author:
Publisher:
ISBN:
Category : Income tax
Languages : en
Pages : 364
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Book Description
Author:
Publisher:
ISBN:
Category : Law
Languages : en
Pages : 282
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Author:
Publisher:
ISBN:
Category : Capital gains tax
Languages : en
Pages : 36
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Book Description
Author: James N. Calvin
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
The article reviews those aspects of the 2003 Tax Act of particular importance to investment managers and investment vehicles such as mutual funds and hedge funds. The spread between the highest tax rate on ordinary income and that on net capital gain that existed prior to the Act was approximately 18.6%. That spread has now been increased to 20%. Thus, the motivation to arbitrage the rate differences is only marginally increased by the Act. However, as in all things economic, action occurs at the margins, and the authors expect to see increased interest in holding capital assets for the long-term. With the reduction in the tax on net capital gains, U.S.-based managers of offshore hedge funds may want to reconsider the deferral of future fees through nonqualified deferred compensation arrangements. These fees are taxed as ordinary income, and generally at the highest individual tax rates when paid, and do carry substantial tax rate risk - that is, the risk that tax rates will be substantially higher than 35% when the fee is paid. Thus, these managers may want to consider the tax-efficiency of various fee arrangements. The authors also discuss qualifying dividend income, securities lending and short sales, the investment interest expense deduction, dividends on debt-financed stock, master-feeder structures, variable annuity accounts, and other topics relevant to the recent Act.
Author: Gary L. Guenther
Publisher:
ISBN:
Category : Business tax
Languages : en
Pages : 9
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Book Description
