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Federal Individual Income Tax Thresholds for 2004 (CRS Report for Congress)

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Release Date May 12, 2004
Report Number RS21841
Report Type Report
Authors Gregg Esenwein, Government and Finance Division
Source Agency Congressional Research Service
Summary:

One commonly accepted principle of tax fairness reflected in the U.S. tax code is that families at the low end of the income spectrum, especially those near the poverty threshold, should not be subject to the federal income tax. Since the major components of the federal income tax that govern these tax thresholds are indexed for inflation, nominal dollar federal individual income tax thresholds change every year. This report presents the tax thresholds for various family income levels for the tax year 2004.