Jobs And Growth Tax Relief Reconciliation Act of 2003
 |
Definition of 'Jobs And Growth Tax Relief Reconciliation Act of 2003'An act passed by congress that was intended to improve the economy of the United States by reducing the taxes collected, giving the population more money to spend. The act was passed in May 2003 and signed into law shortly after. |
 |
Investopedia explains 'Jobs And Growth Tax Relief Reconciliation Act of 2003'The passing of the Jobs and Growth Tax Relief Reconciliation Act of 2003 lowered the tax rate applied to dividend income by making this income count as capital gains instead of as a part of normal income. The act also simplified rules relating to qualifying retirement plans and increased the personal tax exemption amount of the 'alternative minimum tax'. |
Related Definitions
Articles Of Interest
-
Using Tax Lots: A Way To Minimize Taxes
The method of identifying cost basis can help you to get the most out of reduced tax rates. -
What is the double taxation of dividends?
After all is said and done, companies that have made a profit can do one of two things with the excess cash. They can (1) take the money and reinvest it to earn even more money, or (2) take the ... -
How Dividends Work For Investors
Find out how a company can put its profits directly into your hands. -
Has Income Tax Become A Class Tax On The Poor?
With more than 33% of American families falling close to the poverty line despite their adult members holding full-time employment, a rising number of citizens are being forced to pay a rate ... -
How The 2014 Obama Budget Could Affect Your Finances
Depending on which estimate you believe, Obama's proposed budget would raise the tax bill of a household with a yearly income of $50,000 to $75,000 between $63 and $100 per year. However, that’s ... -
Austerity: When The Government Tightens Its Belt
When a government tightens its belt in tough economic times the entire nation feels the squeeze. -
How To Deduct Your Job Search Expenses
With approximately 12 million Americans out of a job right now, many people are spending significant dollars to be noticed by potential employers. Fortunately, some of these job-search costs ... -
Are IRS-Prepared Tax Returns The Solution To Our Tax Woes?
The government is considering letting the IRS do your taxes for you. While this may sound great, there are plenty of reasons why you may not want to trust the IRS to calculate your tax return. ... -
Approved: Paying Online Sales Tax
States will now be allowed to collect sales taxes on purchases made from Internet-based retailers even if the retailer has no physical presence in that state. -
Taxable Rewards To Be Aware Of
Find which benefits from reward programs count as income in the eyes of the IRS.
Free Annual Reports
