The IRS released inflation adjusted amounts for 2016 in Revenue Procedure 2015-53.

The tax tables for 2016 will be:

Married Couples Filing a Joint Return

If Taxable Income Is:	The Tax Is:
Not over $18,550	10% of the taxable income
Over $18,550 but not over $75,300	$1,855 plus 15% of the excess over $18,550
Over $75,300 but not over $151,900	$10,367.50 plus 25% of the excess over $75,300
Over $151,900 but not over $231,450	$29,571.50 plus 28% of the excess over $151,900
Over $231,450 but not over $413,350	$51,791.50 plus 33% of the excess over $231,450
Over $413,350 but not over $466,950	$111,818.50 plus 35% of the excess over $413,350
Over $466,950	$130,578.50 plus 39.6% of the excess over $466,950

Heads of Household

If Taxable Income Is:	The Tax Is:
Not over $13,250	10% of the taxable income
Over $13,250 but not over $50,400	$1,325 plus 15% of the excess over $13,250
Over $50,400 but not over $130,150	$6,897.50 plus 25% of the excess over $50,400
Over $130,150 but not over $210,800	$26,835 plus 28% of the excess over $130,150
Over $210,800 but not over $413,350	$49,417 plus 33% of the excess over $210,800
Over $413,350 not over $441,000	$116,258.50 plus 35% of the excess over $413,350
Over $441,000	$125,936 plus 39.6% of the excess over $441,000

Single

If Taxable Income Is:	The Tax Is:
Not over $9,275	10% of the taxable income
Over $9,275 but not over $37,650	$927.50 plus 15% of the excess over $9,275
Over $37,650 but not over $91,150	$5,183.75 plus 25% of the excess over $37,650
Over $91,150 but not over $190,150	$18,558.75 plus 28% of the excess over $91,150
Over $190,150 but not over $413,350	$46,278.75 plus 33% of the excess over $190,150
Over $413,350 not over $415,050	$119,934.75 plus 35% of the excess over $413,350
Over $415,050	$120,529.75 plus 39.6% of the excess over $415,050

Married Filing Separate Returns

If Taxable Income Is:	The Tax Is:
Not over $9,275	10% of the taxable income
Over $9,275 but not over $37,650	$927.50 plus 15% of the excess over $9,275
Over $37,650 but not over $75,950	$5,183.75 plus 25% of the excess over $37,650
Over $75,950 but not over $115,725	$14,758.75 plus 28% of the excess over $75,950
Over $115,725 but not over $206,675	$25,895.75 plus 33% of the excess over $115,725
Over $206,675 but not over $233,475	$55,909.25 plus 35% of the excess over $233.475
Over $233,475	$65,289.25 plus 39.6% of the excess over $232,475

Estates and Trusts

If Taxable Income Is:	The Tax Is:
Not over $2,550	15% of the taxable income
Over $2,550 but not over $5,950	$382.50 plus 25% of the excess over $2,550
Over $5,950 but not over $9,050	$1,232.50 plus 28% of the excess over $5,950
Over $9,050 but not over $12,400	$2,100.50 plus 33% of the excess over $9,050
Over $12,400	$3,206 plus 39.6% of the excess over $12,400

Other inflation-adjusted items in the notice are:

Unearned Income Taxed As if Parent’s Income (“Kiddie Tax”)	Unearned income in excess of $1,050
Adoption Credit	Maximum credit for both special needs adoptions and other adoptions is $13,460. The credit begins to phase out at adjusted gross income of $201,920 and is fully phased out at $241,920
Child Tax Credit	The value used to determine the amount under §24 that may be refundable is $3,000
Hope Scholarship Credit	100% of expenses not in excess of $2,000 plus 25% of next $2,000, for a maximum credit of $2,500. Modified adjusted gross income in excess of $80,000 ($160,000 for a joint return) is used to determine the reduction in the credit
Lifetime Learning Credit	Modified adjusted gross income in excess of $55,000 ($110,000 for a joint return) is used to determine the reduction in the credit

Earned Income Credit

The threshold phase-out amounts and completed phase-out amounts for 2016 for married couples filing a joint return:

Item	Number of Qualifying Children
Item	One	Two	Three or More	None
Earned Income Amount	$9,920	$13,930	$13,930	$6,610
Maximum Amount of Credit	3,373	5,572	6,269	506
Threshold Phaseout Amount (Single, Surviving Spouse or Head of Household)	18,190	18,190	18,190	8,270
Completed Phaseout Amount(Single, Surviving Spouse or Head of Household)	39,296	44,648	47,955	14,880
Threshold Phaseout Amount (Married Filing Jointly)	23,740	23,740	23,740	13,820
Completed Phaseout (Married Filing Jointly)	44,846	50,198	53,505	20.430

Excess Investment Income for Earned Income Credit	EITC not allowed if investment income exceeds $3,400
Rehabilitation Expenditures Treated as Separate New Building	The per low-income unit qualified basis amount under §42(e)(3)(A)(ii)(II) is $6,700

Refundable Credit for Coverage Under a Qualified Health Plan. For taxable years beginning in 2015, the limitation on tax imposed under § 36B(f)(2)(B) for excess advance credit payments is determined using the following table:

If the household income (expressed as a percent of poverty line) is:	The limitation amount for unmarried individuals (other than surviving spouses and heads of household) is:	The limitation amount for all other taxpayers is:
Less than 200%	$300	$600
At least 200% but less than 300%	$750	$1,500
At least 300% but less than 400%	$1,275	$2,550

Rehabilitation Expenditures Treated as Separate New Building	For calendar year 2015, the per low-income unit qualified basis amount under § 42(e)(3)(A)(ii)(II) is $6,700.
Low-Income Housing Credit	The amount used to calculate the State housing ceiling is the greater of (1) $2.35 multiplied by the State population or (2) $2,690,000
Employee Health Insurance Credit under §45R	The average wage phase-out begins at $25,900
Exemption Amounts for Alternative Minimum Tax	Joint Returns or Surviving Spouses $83,800
	Single and Head of Household $53,900
	Married Individuals Filing a Separate Return $41,900
	Estates and Trusts $23,900
AMTI Level at Which the 28% Rate Applies	Married Individuals Filing Separate Returns $93,150
AMTI Level at Which the 28% Rate Applies	Other Taxpayers $186,300
AMT Phaseout of Exemption Amounts Begin at	Joint Returns or Surviving Spouses $159,700
	Single and Head of Household $119,700
	Married Individuals Filing Separate Returns $79,850
AMT Exemption for Child Subject to the “Kiddie Tax”	The child’s earned income plus $7,400
Transportation Mainline Pipeline Construction Industry Optional Expense Substantiation Rules for Payments to Employees under Accountable Plans	Up to $17 an hour for rig related expenses if the employer does not reimburse fuel. Up to $11 an hour if the employer does reimburse fuel [Rev Proc 2002–41]
Standard Deduction	Married Individuals Filing a Joint Return and Surviving Spouses $12,600
	Heads of Household $9,300
	Single $6,300
	Married Individuals Filing Separate Returns $6,300
Standard Deduction for Person Who May be Claimed as a Dependent	Greater of $1,050 or the sum of $350 and the individual’s earned income
Aged or Blind Additional Standard Deduction	The additional standard deduction is $1,250. The amount is increased to $1,550 if the individual is unmarried and not a surviving spouse
Overall Limit on Itemized Deductions (“Pease” Limitation) Begins to Apply	Joint return or Surviving Spouse $311,300
	Head of Household $285,350
	Single $259,400
	Married Individual Filing a Separate Return $155,650
Cafeteria Plan Medical FSA Deferrals	Maximum of $2,550
Qualified Transportation Fringe Benefit	Monthly limitation for transportation in a commuter highway vehicle and any transit pass is $130. Monthly maximum exclusion for qualified parking is $255
United State Savings Bonds Higher Education Expenses	Exclusion begins to phase out for modified gross income above $116,300 for joint returns and $77,550 for other returns. The exclusion completely phases out for modified adjusted gross income of $146,300 or more for joint returns and $92,550 or more for other returns
Adoption Assistance Programs	The limits and phase outs are the same as for the adoption credit
Personal Exemption	$4,050
Personal Exemption Phase-Out	Married filing joint and surviving spouse begins at $311,300 and is completely phased out at $433,800
	Heads of household begins at $285,350 and is completely phased out at $407,850
	Single begins at $259,400 and is completely phased out at $381,900
	Married individuals filing separate returns begins at $155,650 and is completely phased out at $216,900
Eligible Long-Term Care Premiums Limit Based on Age Attained at Close of Taxable Year	40 or less $390
	More than 40 but not more than 50 $730
	More than 50 but not more than 60 $1,460
	More than 60 but not more than 70 $3,900
	More than 70 $4,870
Medical Savings Account High Deductible Health Plan	Self-only coverage: annual deductible not less than $2,250 and not more than $3,350, with a maximum out of pocket of no more than $4,450
Medical Savings Account High Deductible Health Plan	Family coverage: annual deductible not less than $4,450 and not more than $6,700, with a maximum out of pocket of no more than $8,150
Interest on Education Loans	Begins to phase out at modified adjusted gross income of $65,000 ($130,000 for joint returns) and is completely phased out at MAGI of $80,000 or more ($160,000 or more for joint returns)
Insubstantial Benefit Limitations for Contributions Associated with Charitable Fund Raising Campaigns	For purposes of defining the term “unrelated trade or business” for certain exempt organizations under § 513(h)(2), “low cost articles” are articles costing $10.60 or less.
	Under § 170, the $5, $25, and $50 guidelines in section 3 of Rev. Proc. 90-12, 1990-1 C.B. 471 (as amplified by Rev. Proc. 92-49, 1992-1 C.B. 987, and modified by Rev. Proc. 92-102, 1992-2 C.B. 579), for the value of insubstantial benefits that may be received by a donor in return for a contribution, without causing the contribution to fail to be fully deductible, are $10.60, $53, and $106, respectively.
Covered Expatriate	An individual generally is a covered expatriate if the individual’s “average annual net income tax” under §877(a)(2)(A) for the five taxable years ending before the expatriation date is more than $161,000.
Tax Responsibilities for Expatriation	The amount that would be includible in the gross income of a covered expatriate by reason of § 877A(a)(1) is reduced (but not below zero) by $693,000.
Foreign Earned Income Exclusion	$101,300
Unified Credit Against Estate Tax	Basic exclusion amount is $5,450,000
Valuation of Qualified Real Property in Decedent’s Gross Estate	If the executor elects to use the special use valuation method under § 2032A for qualified real property, the aggregate decrease in the value of qualified real property resulting from electing to use § 2032A for purposes of the estate tax cannot exceed $1,110,000.
Annual Exclusion for Gifts	Present interest gifts $14,000
Annual Exclusion for Gifts	Gifts to spouse who is not a citizen of the United States $148,000
Notice of Large Gifts Received from Foreign Persons	$15,671
Interest on a Certain Portion of an Estate Tax Payable in Installments	The dollar amount used to determine the "2-percent portion" (for purposes of calculating interest under § 6601(j)) of the estate tax extended as provided in § 6166 is $1,480,000.
Periodic Payments Received under Qualified Long-Term Care Insurance Contracts or under Certain Life Insurance Contracts	The stated dollar amount of the per diem limitation under § 7702B(d)(4), regarding periodic payments received under a qualified long-term care insurance contract or periodic payments received under a life insurance contract that are treated as paid by reason of the death of a chronically ill individual, is $340.