IRS Announces 2015 Tax Brackets, Standard Deduction Amounts And More

NACBA

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The Internal Revenue Service has announced the annual inflation adjustments for a number of provisions for the year 2015, including tax rate schedules, tax tables and cost-of-living adjustments for certain tax items.

These are the applicable numbers for the tax year 2015 – in other words, effective January 1, 2015. They are NOT the numbers and rates that you’ll use to prepare your 2014 tax returns in 2015 (if you’re looking for those, you’ll find them here). These numbers and rates are those you’ll use to prepare your 2015 tax returns in 2016. Got it? Good. Here are the highlights:

http://www.forbes.com/sites/kellyph...brackets-standard-deduction-amounts-and-more/
 
Actually seems like pretty sizable bumps to the tax brackets. 28% threshold increasing by about 3.4% for single people....not too bad.
 
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