H.R.4810 - Marriage Tax Relief Reconciliation Act of 2000106th Congress (1999-2000)
Summary: H.R.4810 — 106th Congress (1999-2000)
Marriage Tax Relief Reconciliation Act of 2000 - States that no amendment made by this Act shall be treated as a tax rate change for purposes of section 15 (effect of changes on tax rates) of the Internal Revenue Code.
Conference report filed in House (07/19/2000)
(Sec. 2) Amends the Internal Revenue Code (IRC) to provide that the basic standard deduction for a married couple filing jointly shall be twice the basic standard deduction for an unmarried individual, beginning in 2000.
(Sec. 3) Provides that the 15 percent regular income tax bracket for a married couple filing jointly shall be twice the size of the corresponding bracket for an unmarried individual. Sets forth a graduated phase-in beginning in 2000 and fully effective in 2004.
(Sec. 4) Increases the beginning point of the phase-out range of the earned income credit for married couples filing jointly by $2,000, beginning in 2000.
(Sec. 5) Revises provisions concerning the allowance of nonrefundable personal tax credits to provide that the aggregate amount of such credits shall not exceed the sum of: (1) the taxpayer's regular tax liability for the taxable year reduced by the foreign tax credit; and (2) the alternative minimum tax.
(Sec. 6) States that the amendments made by this Act shall not be taken into account under IRC provisions relating to failure to pay estimated tax in determining the amount of any installment required to be paid before October 1, 2000.
(Sec. 7) Sets forth "Budget Act" compliance provisions (sunset provisions).