Inflation adjustments for 2012 taxes

Real Estate Tax Talk

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Every year the Internal Revenue Service adjusts for inflation tax brackets, tables, exemptions, thresholds and other items. In recent years these annual adjustments have been minimal because inflation has been very low. This pattern holds true for 2012. Here are the major adjustments for 2012:

–The value of each personal and dependent exemption, available to most taxpayers, is $3,800, up $100 from 2011.