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| anymore, urethral stricture, stock photos, spouses, sociology marriage & family, dating security, english language, physician recruitment, housewife fantasies , human growth homone, over 50 birthday , unchurched, wedding expo, disgruntled housewife , costa rica, | percent rate is cut over the age of 50 to 38.6 percent. (Eventually, the rates become 25 percent, 28 percent, 33 percent and 35 percent, respectively.) An increase and expansion of the child tax credit. The child credit was expanded to $600 per child for 2001 to 2004, $700 for 2005 to 2008, $800 for 2009 and finally over the age of 50 $1,000 for 2010. over the age of 50 Further, the child credit was made refundable to the extent of 10 percent of the taxpayer's earned income in excess of $10,000 for 2001 to 2004, increased to 15 percent after 2005. For example, for 2001, a single mother with two children making $15,000 received a credit of $500. This single mother likely will receive a bigger tax refund check when she files her 2001 tax return. This expansion of the child credit will ensure that millions of low-income families will now receive the benefit of the child credit. |
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| Some of the measure's tax cuts went into effect last year, and many other provisions became effective yesterday, Jan.1, 2002. Grassley said already effective or imminent tax relief provisions include: A new 10 percent rate english language bracket. The act created a new 10 percent regular income tax bracket for a part of the taxable income that had been taxed at 15 percent. The 10 percent bracket applies to the first $6,000 of taxable income for single individuals, $10,000 of taxable income for english language heads of households, and $12,000 for married couples filing jointly. This is effective for taxable years beginning english language after Dec. 31, 2000. (This provision caused the tax refund checks last summer.) A reduction in other individual tax rates. The regular income tax rates phase down over six years. Effective July 1, 2001, through 2003, the 28 percent rate is cut to 27 percent, the 31 percent rate is cut to 30 percent, the 36 percent rate is cut to 35 percent, and the 39.6 |
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