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Tax Guru-Ker$tetter Letter
Friday, October 16, 2009
 
Official IRS 2010 Inflation Adjustments

For those folks not satisfied with the CCH calculations of the 2010 inflation adjustments that I posted a month ago, IRS has officially released their figures.



Summary


21 page pdf file with all details


 

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Thursday, September 17, 2009
 
2010 Federal CPI Adjustments


For several years now, a popular topic has been the annual inflation adjustments for those aspects of the US Internal Revenue Code that require such modifications.  Once again, CCH has made their calculations available to the public in this announcement.  As soon as I can, I will set up a new page on my website to reflect these new figures.   


Another very popular topic is the annual gift tax exemption, which can only be adjusted in even $1,000 increments.  According to the CCH report, it will remain at $13,000 for 2010.


[Update:  The 2010 rate page is up, and the Section 179 page has been updated for 2010 maximums.] 

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Friday, December 26, 2008
 
2009 Tax Rates
Q:

Subject: 2009 Tax Rates

Dear Mr. Kerstetter,

The 2009 Income Tax Rates for Married Filing Jointly on your web-site link are not consistent with the rates published in the IRS Publication 15 Circular E for 2009.

Is this due to publication date differences? Which is the correct 2009 tax rates?

Thanks.

A:

You have me a little confused.  I downloaded the new Pub 15 that you linked to and I don't see an income tax rate schedule that is comparable to the one I posted on my website.  There are withholding tables, which are calculated slightly differently than the actual tax calculation schedules.  If you were trying to equate the two, that's not really possible.

The figures on my schedule do match exactly with the IRS's official release of the inflation adjustments for 2009, Revenue Procedure 2008-66.

Here is a copy and paste from Page 6 of that pdf file:



I also double checked with the update from The TaxBook.

It is pasted below:



I hope this helps.

If you can let me know where in Pub 15 you are trying to match the rates to, I can better understand your confusion.

Kerry Kerstetter


Follow-Up:

Mr. Kerstetter,

Thank you for the explanation.  It clarified my confusion.


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