IRS.gov IRS.gov Home Child Tax Credits Increased

You may be able to take credits of up to $1,000 for each qualifying child. But you must reduce your credits by any advance child tax credit payment you received in 2003. Tax Rates Reduced Most of the tax rates have been reduced. For most people, more income is taxed at the 10 % rate. Married People—Increased Tax Benefits Your standard deduction has increased and more of your income is taxed at the 15 % rate. Dividends—New Tax Rate The maximum tax rate for qualified dividends is 15 % (5 % for some people). Capital Gains—Maximum Tax Rate Reduced The maximum tax rate for most property disposed of after May 5, 2003, has been reduced to 15 % (5% for some people). For details on these and other changes, see page 14. With Consider Your Taxes Done You surf the web, email your friends, book travel, and bank online. Why not file your tax return the same way. For details, see page 3 or go to www.irs.gov