IRS announces 2010 inflation adjustments

TheIRS has published its 2010 inflation adjusted figures for many limitations found in the tax code. There are no changes from the 2009 figures for the kiddie tax unearned income threshold, the American Opportunity/Hope/Lifetime Learning credits, or the gift tax annual exclusion amount. The income limits for the education bond exclusion (for certain U.S. savings bonds) is increased slightly in 2010 with a MAGI phase-out range of $105,100 - $135,100 for married taxpayers filing jointly and $70,100 - $85,100 for other taxpayers.
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