Faculty, Society of Certified Senior Advisors
Frankv@csa.us
http://www.csa.us/
Part III of previous blog postings on Retirement Plan Limits
On December 21, 2010, the IRS released the inflation-adjusted rates for tax year 2011. (1) The information below reflects those changes.
Standard Deduction:
On December 21, 2010, the IRS released the inflation-adjusted rates for tax year 2011. (1) The information below reflects those changes.
Standard Deduction:
![](http://2.bp.blogspot.com/_FYY97YoA4uU/TS3qWggUJ0I/AAAAAAAAAEg/O6wxzW6tluo/s400/Standard%2BDeduction.jpg)
Additional Standard Deduction for Elderly and/or Blind:
![](http://4.bp.blogspot.com/_FYY97YoA4uU/TS3Y_QobqPI/AAAAAAAAADQ/VsoE02G-2nw/s400/Additional%2BStandard.jpg)
Personal Exemption:
![](http://1.bp.blogspot.com/_FYY97YoA4uU/TS3U4Dzx4II/AAAAAAAAAC4/xK14ZUw_lnw/s400/Personal%2BExemption.jpg)
Income Tax Brackets:
![](http://3.bp.blogspot.com/_FYY97YoA4uU/TS3pJu715UI/AAAAAAAAAEQ/7ITfvSWt9Ic/s400/Income%2BTax%2BBrackets.jpg)
Child Tax Credit:
The refundable child tax credit for 2011 is $3,000.
Earned Income Credit:
![](http://4.bp.blogspot.com/_FYY97YoA4uU/TS3p3_qNIvI/AAAAAAAAAEY/kzCdwx_LDuw/s400/Earned%2BIncome%2BCredit.jpg)
(1) Source: IRS Rev. Proc. 2011-12, 2011-2 IRB 1 (Dec. 21, 2010)
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