AccountingWeb.com has this article (provided by CCH, Inc) regarding the tax implications of the Jobs and Growth Tax Relief Reconciliation Act of 2003 (“JAGTRRA”): “Industry Sector Implications of Tax Cuts.”
In addition, today’s edition of the Wall Street Journal reports on important implications of JAGTRRA on margin accounts. The article discusses how investors who own margin accounts may be in for a surprise when they discover that the dividends they receive in these accounts may not be eligible for the new lower tax on dividends and refers us to the very helpful site for the Securities Industry Association (Wall Street’s trade group), SIA.com, which has a brochure explaining the implications of JAGTRRA. You can access the brochure here. Two more articles today in the Journal discuss JAGTRRA as well: “Tax Plan Puts Crimp in Short Selling” by Allison Bisbey Colter, and “New Law Leaves Recapture Tax Rate Unchanged” by Roy A. Smith.