Wednesday, January 12, 2011

2011 Income Tax Adjustments

Blog posting provided by Frank Vidin, CFP(R), CSA
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:



Additional Standard Deduction for Elderly and/or Blind:


Personal Exemption:


Income Tax Brackets:

Child Tax Credit:

The refundable child tax credit for 2011 is $3,000.


Earned Income Credit:

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(1) Source: IRS Rev. Proc. 2011-12, 2011-2 IRB 1 (Dec. 21, 2010)

To print a hardcopy of this table, please visit www.csa.us/freeresources