In 2016, Some Tax Benefits Increase Slightly Due to Inflation Adjustments, Others Are Unchanged11/9/2016
For tax year 2016, the Internal Revenue Service today announced annual inflation adjustments for more than 50 tax provisions, including the tax rate schedules, and other tax changes. Revenue Procedure 2015-53 provides details about these annual adjustments.
The tax items for tax year 2016 of greatest interest to most taxpayers include the following dollar amounts:
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