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Archive for October 15th, 2015

2016 Federal Tax Inflation Adjustments

Posted by taxguru on October 15, 2015

Every year around this time, different tax scholars apply the past year’s annual inflation rate to those parts of the IRC that require annual adjustments. 

The first such announcement that I have learned about for 2016 is from The Tax Foundation. Here is the summary of their calculations:

Web – HTML

PDF (4 pages)

Update: IRS Has released its own calculations of the inflation adjustments for 2016:

In 2016, Some Tax Benefits Increase Slightly Due to Inflation Adjustments, Others Are Unchanged

Revenue Procedure 2015-53 with more details (27 page PDF)

IRS Announces 2016 Pension Plan Limitations; 401(k) Contribution Limit Remains Unchanged at $18,000 for 2016

Posted in inflation, IRS | Comments Off on 2016 Federal Tax Inflation Adjustments