PUBLIC LAW 95-600—NOV. 6, 1978
92 STAT. 2771
(2) WITHHOLDING AMENDMENTS.—The amendments made by 26 USC 3402 subsection (e) shall apply to remuneration paid after Decem- "o*^ber 31, 1978. SEC. 102. PERSONAL EXEMPTIONS INCREASED TO $1,000.
(a) GENERAL RULE.—Section 151 (relating to allowance of deduc- 26 USC 151. tions for personal exemptions) is amended by striking out "$750" each place it appears and inserting in lieu thereof "$1,000". (b) FILING REQUIREMENTS.—
(1) Paragraph (1) of section 6012(a) (relating to persons 26 USC 6012. required to make returns of income) as amended by section 101(c) of this Act, is amended by striking out "$750", "$3,050", "$4,150", and "$4,900" each place they appear and inserting in lieu thereof "$1,000", "$3,300", "$4,400", and "$5,400", respectively. (2) Subparagraph (A) of section 6013(b)(3) (relating to assess- 26 USC 6013. ment and collection in the case of certain returns of husband and wife) is amended by striking out "$750" and "$1,500" each place they appear and inserting in lieu thereof "$1,000" and "$2,000", respectively. (c) WITHHOLDING REQUIREMENTS.—
(1) Paragraph (1) of section 3402(b) (relating to percentage 26 USC 3402. method of withholding income tax at source) is amended by striking out the table and inserting in lieu thereof the following: "Percentage Method Withholding Table "Payroll period
Weekly Biweekly Semimonthly Monthly Quarterly Semiannual Annual Daily or miscellaneous (per day of such period)
Amount of one withholding exemption
$19.23 38.46 41.66 83.33 250.00 500.00 1,000.00 2.74"
(2) Paragraph (1) of section 3402(m) (relating to withholding allowances based on itemized deductions) is amended by striking out "$750" and inserting in lieu thereof "$1,000". (d) EFFECTIVE DATES.—
(1) IN GENERAL.—The amendments made by subsections (a) and (b) shall apply to taxable years beginning after December 31, 1978. (2) WITHHOLDING AMENDMENTS.—The amendments made by subsection (c) shall apply with respect to remuneration paid after December 31, 1978.
26 USC 151 "ote. 26 USC 3402 °°t®-
SEC. 103. EARNED INCOME CREDIT MADE PERMANENT. (a) GENERAL RULE.—Subsection (b) of section 209 of the
Tax
Reduction Act of 1975 is amended by striking out ", and before 26 USC 43 noti; January 1, 1979". (b) TECHNICAL AMENDMENT.—The second sentence of section 401(e) of the Tax Reform Act of 1976 (as added by section 103 of the Tax 26 USC 42 note Reduction and Simplification Act of 1977) is amended by striking out
- , and shall cease to apply to taxable years beginning after December 31, 1978".
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