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October 17, 2008
2009 Inflation-Adjusted Tax Tables
The IRS yesterday released the inflation adjusted 2009 federal tax brackets and tables (IR-2008-117; IR-2008-118; Rev. Proc. 2008-66):
- Standard Deduction: $5,700 single/$11,400 joint (up $250/$500 from 2008)
- Personal Exemption: $3,650 (up $150 from 2008)
- Gift Tax Exemption: $13,000 (up $1,000 from 2008)
- 401(k) Contribution Limit: $16,500 (up $1,000 from 2008)
- Income Limit for Full Roth IRA Contributions: $105,000 single/$166,000 joint (up $4,000/$7,000 from 2008)
- Limitation on Annual Benefit under Defined Benefit Plan: $195,000 (up $10,000 from 2008)
- Kiddie Tax Threshold: $950 (up $50 from 2008)
Here are the 2009 tax tables (along with the 2008 tax tables):
October 17, 2008 in IRS News | Permalink
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The IRS issued the inflation adjustments for income and gift taxes yesterday (Rev. Proc. 2008-66). The adjustments include updated rate... [Read More]
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Comments
Thanks. Just the information I was looking for!
Posted by: Andy | Nov 23, 2008 2:59:48 PM
