What is ‘Economic Growth And Tax Relief Reconciliation Act of 2001 – EGTRRA’
A U.S. tax law, effective for tax years beginning 2002, that made some of the most important changes to retirement plans, including increased contributions and deductibility limits for IRA and employer-sponsored plans, and expanded the portability rules for retirement plans in general. EGTRRA also increased the estate-tax exclusion and increased the generation-skipping transfer-tax exemption amounts.
Explaining ‘Economic Growth And Tax Relief Reconciliation Act of 2001 – EGTRRA’
Many of the changes brought about by EGTRRA are scheduled to sunset in 2010. This means that unless new laws are passed to extend these provisions, things will revert to the way they were before EGTRRA. Taxpayers would do well to take advantage of as much of the EGTRRA provisions as they can before the provisions sunset.
Further Reading
- An economic evaluation of the economic growth and tax relief reconciliation act of 2001 – www.jstor.org [PDF]
- The Economic Growth and Tax Relief Reconciliation Act of 2001 and Private Pension System Reform – heinonline.org [PDF]
- The 2001 and 2003 tax rate reductions: An overview and estimate of the taxable income response – www.jstor.org [PDF]
- Dividend taxation and household dividend portfolio decisions: evidence from the US Jobs and Growth Tax Relief Reconciliation Act of 2003 – www.tandfonline.com [PDF]
- Highlights of the 2003 Jobs and Growth Tax Relief Reconciliation Act: Economic Stimulus or Long-Term Disaster – heinonline.org [PDF]
- EGTRRA: New Tax Law Calls for Rethinking Benefit Plan Structure – heinonline.org [PDF]
