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On May 26,
2001, Congress PASSED the "Economic Growth and Tax
Relief Reconciliation Act of 2001 (H.R.
1836)." This new act is the largest tax
cut in 20 years! It has caused 441 changes to the Internal Revenue Code.
The new law will be phased in slowly over the next 10 years and will add
up to a $1.35 trillion tax cut. President Bush signed this act into law on
June 7, 2001.
NOTE: ALL
changes to the tax code caused by this tax act are set to expire on
January 1, 2011. That means ALL these changes DISAPPEAR and we revert back
to the tax code as it appeared before year 2001! |
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Below you will find links that will take you to information on tax rate
cuts, advance tax refunds, child-related tax benefits, marriage penalty
relief, education incentives, pension & retirement savings reform,
alternative minimum tax (AMT) relief, and much more! |
