• The 2003 Tax Bill -- What It Means To You
  • July 29, 2003 | Authors: Ruth N. Holzman; Joseph A. Rieser
  • Law Firms: Reed Smith LLP - San Francisco Office ; Reed Smith LLP - Los Angeles Office ; Reed Smith LLP - Pittsburgh Office
  • On May 28, 2003, President Bush signed the Jobs and Tax Growth Tax Relief Reconciliation Act of 2003. The Act made important changes in federal income tax law, although not as many as were proposed during the legislative process. The following is a summary of the Act's provisions most likely to be important to tax payers. The summary is not exhaustive. In the discussion below, income amounts are for married individuals filing joint returns, but similar rules apply at different income amounts for those filing in other statuses.