Provides a schedule for making, by 2005, the maximum taxable income in the lowest married bracket equal to double the maximum taxable income in the lowest single filer bracket.
Increases the earned income credit phaseout amount on a joint return by $2,000.
Revises IRC provisions relating to limitation based on tax liability and the definition of such liability to provide that the aggregate amount of credits allowed as nonrefundable personal credits shall not exceed the sum of: (1) the taxpayer's regular tax liability for the taxable year reduced by the foreign tax credit; and (2) the tax imposed by the alternative minimum tax.
Provides a schedule for making, by 2005, the maximum taxable income in the lowest married bracket equal to double the maximum taxable income in the lowest single filer bracket.
Increases the earned income credit phaseout amount on a joint return by $2,000.
Revises IRC provisions relating to limitation based on tax liability and the definition of such liability to provide that the aggregate amount of credits allowed as nonrefundable personal credits shall not exceed the sum of: (1) the taxpayer's regular tax liability for the taxable year reduced by the foreign tax credit; and (2) the tax imposed by the alternative minimum tax.
Provides a schedule...
Increases the earned income credit phaseout amount on a joint return by $2,000.
Revises IRC provisions relating to limitation based on tax liability and the definition of such liability to provide that the aggregate amount of credits allowed as nonrefundable personal credits shall not exceed the sum of: (1) the taxpayer's regular tax liability for the taxable year reduced by the foreign tax credit; and (2) the tax imposed by the alternative minimum tax.