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Little Change for Tax Brackets in 2010

Posted by Predovich & Company

The inflation adjustment for tax brackets in 2010 will be near zero, the Tax Foundation predicts. The foundation releases unofficial projections for the personal exemption and other key tax deductions and thresholds, based on changes in the Consumer Price Index for All Urban Consumers (CPI-U), and calculated in accordance with Internal Revenue Code Section 1(f)(3). IRS is required to release official inflation adjustment rates by Dec. 15.

Source: Bureau of National Affairs Daily Tax Report 9/17/09

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