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Section 208 of the Tax Increase Prevention Act of 2014, Achieving a Better Life Experience (ABLE) Act, Pub. L. 113-295, 128 Stat. 4010, provides for inflation adjustments for certain Civil Penalties under the Code (§§ 6651, 6652(c), 6695, 6698, 6699, 6721, and 6722) for returns and statements required to be filed after December 31, 2014. For returns and statements required to be filed after December 31, 2015, Section 806 of the Trade Preferences Extension Act of 2015, Pub. L. 114-27, 129 Stat. 362, increased the tax penalties for failure to file correct information returns and furnish correct payee statements under §§ 6721 and 6722, respectively. SECTION 3. 2016 ADJUSTED ITEMS .01 Tax Rate Tables. For taxable years beginning in 2016, the tax rate tables under § 1 are as follows: TABLE 1 - Section 1(a) - Married Individuals Filing Joint Returns and Surviving Spouses If Taxable Income Is: The Tax Is: Not over $18,550 10% of the taxable income Over $18,550 but $1,855 plus 15% of not over $75,300 the excess over $18,550 Over $75,300 but $10,367.50 plus 25% of not over $151,900 the excess over $75,300 Over $151,900 but $29,517.50 plus 28% of not over $231,450 the excess over $151,900 Over $231,450 but $51,791.50 plus 33% of not over $413,350 the excess over $231,450 Over $413,350 but $111,818.50 plus 35% of not over $466,950 the excess over $413,350