Single taxpayers If taxable income is: Your tax is: Not over $10,275 10% of taxable income Over $10,275 to $41,775 $1,027.50 + 12% of the excess over $10,275 Over $41,775 to $89,075 $4,807.50 + 22% of the excess...
Adoption Assistance Programs Adoption assistance 2021 2022 Maximum amount that can be excluded from employee's gross income $14,440 $14,890 Phaseout threshold amount $216,660 $223,410 Completed phaseout amount after $256,660 $263,410 Earnings subject to FICA taxes (taxable wage base) FICA tax 2021 2022 Maximum annual earnings subject to...
Key indexed figures 2021 2022 Annual gift exclusion: $15,000 $16,000 Gift and estate tax applicable exclusion amount: $11,700,000 + DSUEA1 $12,060,000 + DSUEA1 Noncitizen spouse annual gift exclusion: $159,000 $164,000 Generation-skipping transfer (GST) tax exemption: $11,700,0002 $12,060,0002 Special use valuation limit (qualified real property in...
Eligible long-term care premium deduction limits: LTC premium deduction limits 2021 2022 Age 40 or under $450 $450 Age 41-50 $850 $850 Age 51-60 $1,690 $1,690 Age 61-70 $4,520 $4,510 Over age 70 $5,640 $5,640 Per diem limit: LTC periodic payments 2021 2022 Periodic payments for qualified long-term care insurance/certain life insurance $400 $390 Archer Medical...
IRS started accepting returns: Monday, January 24, 2022 Filing deadline for most individuals: Monday, April 18, 2022 Tuesday, April 19, 2022, if you live in Maine or Massachusetts Monday, October 17, 2022, if you file for an...
In November 2021, Congress passed the Infrastructure Investment and Jobs Act, a roughly $1 trillion package that reauthorized existing programs and provided more than $550 billion in new funding over...
Contributing to an employer-sponsored retirement plan or an IRA is a big step on the road to retirement, but contributing to both can significantly boost your retirement assets. A recent...
The Social Security Administration (SSA) provides personalized Social Security Statements to help Americans age 18 and older better understand the benefits that Social Security offers. Your Statement contains a detailed...
The Fed's current plan is aimed at slowing inflation by returning to a more neutral monetary policy. On December 15, 2021, the Federal Open Market Committee (FOMC) of the Federal Reserve...
