Taxpayer Relief Act Of 1997

Filed Under » , , , , , ,
Dictionary Says

Definition of 'Taxpayer Relief Act Of 1997'

One of the largest tax-reduction acts in U.S. history, this legislation reduced tax rates and offered new tax credits for taxpayers across the board. This act introduced the Child Tax Credit, raised the unified credit limit and the tax exclusion from the sale of a personal residence. This act also provided tax relief for education savings and retirement accounts.
Investopedia Says

Investopedia explains 'Taxpayer Relief Act Of 1997'

The Taxpayer Relief Act of 1997 was signed off on by President Clinton on August 5, 1997. In addition to the aforementioned tax breaks, this act also created a $1.3 million exclusion for farms and small businesses. This act was widely applauded by the American public, and has since provided billions of dollars in tax relief for both personal and business taxpayers.

Articles Of Interest

  1.

    Will Your Home Sale Leave You With Tax Shock?

    Learn how the newest tax laws apply to the proceeds you earn.

  2. Dividend Tax Rates: What Investors Need To Know

    Find out how legislation enacted in 2003 is benefiting both investors and corporations, and when it's scheduled to expire.

  3. Changes In Tax Legislation And Regulation

    Keeping on top of these amendments can help you avoid penalties and take advantage of benefits.

  4. The U.S. National Spending And Debt

    We are looking at what could be the official year of the Federal Budget, or, more specifically, our debt and how we will manage it for many years to come.

  5. Canadians: Smart Ways To Use Your Tax Refund

    Taxes are an annoying annual chore akin to going to the dentist. Luckily, however, some of us get a nice tax refund after the process. It's important to use this refund wisely though, and Canadians ...

  6. 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 ...

  7. Possible Effects Of The Online Retail Tax

    The U.S. Senate has passed a bill that will impose a sales tax on online retailers. Discover how the Marketplace Fairness Act could affect your bottom line.

  8. How To Get The Most Out Of Hiring An Accountant

    When you hire an accountant, getting good tax advice going forward is as valuable as – or perhaps even more valuable than - getting the previous year’s taxes filed correctly. Learn what you need ...

  9. 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 ...

  10. IRS Special Enrollment Examination (SEE) Study Guide

    The enrolled agent status is the highest credential awarded by the IRS.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Yield Elbow

    The point on the yield curve indicating the year in which the economy's highest interest rates occur. The yield elbow is the peak of the yield curve, signifying where the highest interest rates occurred.

  2. Xenocurrency

    A currency that trades in markets outside of its domestic borders.

  3. Wanton Disregard

    A standard of severe negligence. Wanton disregard is a very serious accusation that indicates that a person behaved extremely recklessly.

  4. Ultra ETF

    A class of exchange-traded funds (ETF) that employs leverage in an effort to achieve double the return of a set benchmark.

  5. Toehold Purchase

    A purchase of less than 5% of a target company's outstanding stockmade by an acquiring company. A toehold purchase of just under 5%, while not a significant stake in a firm, allows the shareholders a "toe-holds" grip on the company and its decision making.

  6. Samurai Bond

    A yen-denominated bond issued in Tokyo by a non-Japanese company and subject to Japanese regulations.
Trading Center
http://sp.fastclick.net/ad/tr/10858-64082-15546-0?mpt=95d07899b0ae1ecf070676f24fb138b6