On January 16, 2013 the Internal Revenue Service announced the inflation-related adjustments to the 2013 tax brackets, standard deduction, personal exemptions and other amounts that are modified annually due to inflation. Most such amounts increased by about 2.6% over the same corresponding amounts in effect for the year 2012. The adjustments are contained in Rev Proc 2013-15 and may be viewed here:
This information may be useful to preparers wishing to fine-tune the 2013 tax planning they do for themselves and their clients.
This information may be useful to preparers wishing to fine-tune the 2013 tax planning they do for themselves and their clients.