2009 Inflation Adjustments Widen Tax Brackets and Expand Benefits

For 2009, personal exemptions and standard deductions will rise and tax brackets will widen because of inflation adjustments announced today by the Internal Revenue Service. By law, the dollar amounts for a variety of tax provisions must be revised each year to keep pace with inflation. As a result, more than three dozen tax benefits, affecting virtually every taxpayer, are being adjusted for 2009. Read on for key changes affecting 2009 returns, filed by most taxpayers in early 2010.

Team PaycheckCityOct 15, 2008

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