With the new year comes new tax rules. 2015 marks the second year in a row of straightforward tax changes, primarily made up of simple inflation adjustments.
Income tax rates remained unchanged, while income tax brackets, personal exemptions and standard deductions were adjusted upwards for inflation. The AMT exemption amount was increased for inflation, from $82,100 to $83,400 for married filing joint filers in 2015. The estate tax exemption grew by $90,000 per person to $5,430,00. For more details, view IRS Revenue Procedure 2014-61.