The IRS has released updated rates, exemptions, and other adjusted figures for the 2016 tax year.
I keep summaries of these up-to-date on our firm’s website, and the site has now been updated for 2016. The updates include new income tax rate tables and revised unified credit exclusion amounts for federal transfer taxes, among others. The 25 summaries also include relevant Florida tax rates and tables, none of which require adjustment for the new tax year. There are probably hundred’s of rates and other items that change each year – our website summaries only track the principals rates, exemptions, and other related amounts. You can access these summaries here – scroll down to see the tables once you get there.