After immigrating to the United States, filing taxes reasonably and legally is a civic duty that every new immigrant must fulfill.2015 What are the latest tax item and tax rate changes for U.S. tax filing in 2015? When exactly does the tax filing season begin??
According to a report by The Wall Street Journal, the Internal Revenue Service (IRS) stated that because Congress implemented an extension of approximately 50 temporary tax relief measures mid-month, the IRS has sufficient time to update its computerized tax filing systems. Therefore, the 2015 tax filing season will begin as scheduled on January 20, at which time the public can submit their tax returns via mail or online filing.
In accordance with the Affordable Care Act, Americans must report to the IRS for the first time in 2015 whether they had health insurance in the previous year, and those without health insurance may face penalties for the first time.
Additionally, the IRS also needs to address the additional workload brought about by the FATCA Act: preventing taxpayers from using foreign bank accounts to evade taxes. Due to budget cuts, the authorities have suspended new hiring, while trying to minimize employee furloughs and hiring temporary staff during the tax filing season.
The Internal Revenue Service (IRS) announced on December 30, 2014, inflation adjustments for over 40 tax items for 2015, including tax rate tables, tax return income, and certain tax rates adjusted for cost of living. It should be noted that the new tax rates are for the 2015 tax year, meaning they will only be used when filing taxes in 2016; for the 2015 tax filing season, the previous standards for the 2014 tax year still apply.
Below is the latest tax item and relevant tax rate table for the 2015 tax year:
![[Immigrating to the U.S.] 2015 Tax Filing Season Begins on January 20 (Latest Tax Rate Table Included)](http://www.worldwayhk.com/file/upload/201501/08/15-55-13-72-40.jpg)
For the 2015 tax year, the income thresholds for single filers and married couples filing jointly subject to the 39.6% tax rate will be adjusted upward from the previous 413,200 USD and 464,850 USD respectively.
Regarding the Standard Deduction, for the 2014 tax year, the standard deduction for all taxpayers has increased slightly. The amounts for single filers and married individuals filing separately have increased from 6,200 USD and 12,400 USD to 6,300 USD and 12,600 USD, respectively. The deduction for heads of households has increased from 9,100 USD to 9,250 USD.
Regarding Itemized Deductions, for the 2015 tax year, the income thresholds for claiming these deductions are at least 258,250 USD for individual income and at least 309,900 USD for married couples filing jointly.
Regarding Personal Exemptions, for the 2015 tax year, this amount has increased slightly from 3,950 USD to 4,000 USD.
The starting thresholds for the Personal Exemption Phaseout (PEP) are 258,250 USD for individual adjusted gross income and 309,900 USD for married couples filing jointly, while the termination thresholds are 380,750 USD and 432,400 USD, respectively.
