Lee Federal Credit Union •   Washington DC

The Taxpayer Relief Act of 1997 (TRA-97)

$500 per Child Tax Credit
Education
Individual Retirement Accounts
Capital Gains
Small Business
Estate and Gift Tax

Information furnished herein is based on documents made available by the United States Congress. Readers are urged to
consult appropriate professionals of their
own choosing in dealing with their
specific situations.

$500 per Child Tax Credit

This credit applies to families
with children under age 17

$400 credit in 1998;
$500 credit 1999 and thereafter

No mandatory deposit requirement

Partially refundable against payroll taxes through enhanced EIC

Income phase outs begin at $110,000
for couples; $75,000 for singles