The Taxpayer Relief Act of 1997 did what?

Question

The Taxpayer Relief Act of 1997
a) increased capital gains taxes.
b) eliminated tax credits for families with children.
c) changed marginal tax brackets to favor families.
d) did little to benefit people without children or capital gains.

Answer 1

C. Plus the biggie: Exclusion of gain on sale of a personal residence.

Answer 2

The Taxpayer Relief Act Of 1997

Answer 3

It also added about 20% more paperwork to the entire process; say goodby to another forest or two.

Answer 4

c