President George W. Bush last month signed the Working
Families Tax Relief Act of 2004. The legislation extends a number of
tax provisions affecting individuals and businesses, such as marriage
penalty relief and the research and development credit that expired
June 30, 2004. Additional information is available at
http://waysandmeans.house.gov/Links.asp?section=343 .
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How tax reform will impact individual taxpayersAmy Wang, a CPA who is a senior technical manager for tax advocacy at the AICPA, answers to some of the most common questions on how the new tax reform law will impact individual taxpayers.