IRS Announces 2015 Tax Brackets, Standard Deduction Amounts And More

Kelly Phillips Erb for Forbes writes: 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:

Tax Brackets. The big news is, of course, the tax brackets. Here’s what they look like for 2015:

Individual Taxpayers

Married Individuals Filing Joint Returns and Surviving Spouses

Married Individuals Filing Separate Returns

Heads of Household




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