standard deduction

2015 Tax Brackets and Other Federal Taxation Updates

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Given the low inflation environment over the last year, the 2015 IRS Tax Brackets, standard deductions and personal exemptions have only seen a moderate increase over 2014 levels. Federal income tax brackets and related tax items, under the tax code, provide for mandatory annual adjustments based on inflation. This is to prevent the phenomenon known as bracket […]

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2014 IRS Tax Brackets and Rates With Standard Deduction and Personal Exemption Updates

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Below are the 2014 IRS federal tax brackets based on annual inflation adjustments. Given the low inflation environment there were only moderate increases in tax brackets, standard deductions and to the personal exemption. The main changes for the 2014 tax year were: Marginal tax rates remained the same as last year with 39.6% being the highest marginal […]

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2012 Personal Exemption, Standard Deduction, EITC and Foreign Earnings Deduction Change

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With the 2011 tax filing deadline past (unless you filed for an extension) it’s a good time to remind yourself about some key 2012 tax changes. You can see the latest 2012 tax tables here which saw a widening of tax brackets and increases in personal exemptions and standard deductions due to inflation. Personal and […]

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2012 Tax Brackets and Federal IRS Rates, Standard Deduction and Personal Exemptions

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2012 and 2011 tax rates stayed the same as 2010 levels thanks to an extension of the Bush-era tax cuts. This has been confirmed by the IRS with the release of 2012 tax tables. There was also good news in that the 2012 standard deduction and tax brackets will increase due to higher inflation, which […]

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