Following inflation adjustments relate to the tax provisions that were either modified or extended by the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 that became law on Dec. 17 –

  • Personal & Dependent Exemption increased to $3700
  • Standard Deduction increased to $11,600 for MFJ, $5800 for Single and MFS, $8,500 for HOH. Additional standard deduction for blind people and senior citizens increased to $1,150 for MFJ and $1,450 for singles and HOH.
  • Tax-bracket thresholds increase for each filing status.
  • Maximum earned income tax credit(EITC) for low and moderate income workers and working families increased to $5,751. The maximum income limit for EITC increased to $49,078.
  • Modified adjusted gross income threshold for lifetime learning credit begins to phase out at $102K for MFJ and $51K for singles and HOH.