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Changes to Credits, Exemptions, Exclusions, Rates and Filing Thresholds

  • picture of Jennie Cherry
    Jennie Cherry
  • picture of Rashad Wareh
    Rashad Wareh

The US tax system is ever-changing. Each new year brings adjustments to the credits, exemptions, exclusions, rates and filing thresholds used to calculate the four taxes that affect US and non-US individuals alike: income tax, gift tax, estate tax and generation-skipping transfer (GST) tax. Some adjustments are driven by inflation or cost of living, while others are scheduled by statute. March 8, 2007. Download