Index: src/wp-admin/includes/class-wp-terms-list-table.php
===================================================================
--- src/wp-admin/includes/class-wp-terms-list-table.php	(revision 35556)
+++ src/wp-admin/includes/class-wp-terms-list-table.php	(working copy)
@@ -588,8 +588,8 @@
 	?>
 
 		<p class="inline-edit-save submit">
-			<a href="#inline-edit" class="cancel button-secondary alignleft"><?php _e( 'Cancel' ); ?></a>
-			<a href="#inline-edit" class="save button-primary alignright"><?php echo $tax->labels->update_item; ?></a>
+			<button type="button" class="cancel button-secondary alignleft"><?php _e( 'Cancel' ); ?></button>
+			<button type="button" class="save button-primary alignright"><?php echo $tax->labels->update_item; ?></button>
 			<span class="spinner"></span>
 			<span class="error" style="display:none;"></span>
 			<?php wp_nonce_field( 'taxinlineeditnonce', '_inline_edit', false ); ?>
Index: src/wp-admin/js/inline-edit-tax.js
===================================================================
--- src/wp-admin/js/inline-edit-tax.js	(revision 35556)
+++ src/wp-admin/js/inline-edit-tax.js	(working copy)
@@ -1,7 +1,8 @@
 /* global inlineEditL10n, ajaxurl */
+window.wp = window.wp || {};
 
 var inlineEditTax;
-(function($) {
+( function( $, wp ) {
 inlineEditTax = {
 
 	init : function() {
@@ -22,10 +23,10 @@
 			}
 		});
 
-		$( 'a.cancel', row ).click( function() {
+		$( '.cancel', row ).click( function() {
 			return inlineEditTax.revert();
 		});
-		$( 'a.save', row ).click( function() {
+		$( '.save', row ).click( function() {
 			return inlineEditTax.save(this);
 		});
 		$( 'input, select', row ).keydown( function( e ) {
@@ -96,7 +97,9 @@
 		// make ajax request
 		$.post( ajaxurl, params,
 			function(r) {
-				var row, new_id, option_value;
+				var row, new_id, option_value,
+					$errorSpan = $( '#edit-' + id + ' .inline-edit-save .error' );
+
 				$( 'table.widefat .spinner' ).removeClass( 'is-active' );
 
 				if (r) {
@@ -117,16 +120,23 @@
 						// Update the value in the Parent dropdown.
 						$( '#parent' ).find( 'option[value=' + option_value + ']' ).text( row.find( '.row-title' ).text() );
 
-						row.hide().fadeIn();
+						row.hide().fadeIn( 400, function() {
+							// Move focus back to the taxonomy title.
+							row.find( '.row-title' ).focus();
+							wp.a11y.speak( inlineEditL10n.saved );
+						});
+
 					} else {
-						$('#edit-'+id+' .inline-edit-save .error').html(r).show();
+						$errorSpan.html( r ).show();
+						// Some error strings may contain HTML entities (e.g. `&#8220`), let's use the HTML element's text.
+						wp.a11y.speak( $errorSpan.text() );
 					}
 				} else {
-					$('#edit-'+id+' .inline-edit-save .error').html(inlineEditL10n.error).show();
+					$errorSpan.html( inlineEditL10n.error ).show();
+					wp.a11y.speak( inlineEditL10n.error );
 				}
 			}
 		);
-		return false;
 	},
 
 	revert : function() {
@@ -136,10 +146,9 @@
 			$( 'table.widefat .spinner' ).removeClass( 'is-active' );
 			$('#'+id).siblings('tr.hidden').addBack().remove();
 			id = id.substr( id.lastIndexOf('-') + 1 );
-			$(this.what+id).show();
+			// Show the taxonomy listing and move focus back to the taxonomy title.
+			$( this.what + id ).show().find( '.row-title' ).focus();
 		}
-
-		return false;
 	},
 
 	getId : function(o) {
@@ -149,4 +158,4 @@
 };
 
 $(document).ready(function(){inlineEditTax.init();});
-})(jQuery);
+})( jQuery, window.wp );
Index: src/wp-includes/script-loader.php
===================================================================
--- src/wp-includes/script-loader.php	(revision 35556)
+++ src/wp-includes/script-loader.php	(working copy)
@@ -562,9 +562,10 @@
 			'comma' => trim( _x( ',', 'tag delimiter' ) ),
 		) );
 
-		$scripts->add( 'inline-edit-tax', "/wp-admin/js/inline-edit-tax$suffix.js", array( 'jquery' ), false, 1 );
+		$scripts->add( 'inline-edit-tax', "/wp-admin/js/inline-edit-tax$suffix.js", array( 'jquery', 'wp-a11y' ), false, 1 );
 		did_action( 'init' ) && $scripts->localize( 'inline-edit-tax', 'inlineEditL10n', array(
-			'error' => __('Error while saving the changes.')
+			'error' => __( 'Error while saving the changes.' ),
+			'saved' => __( 'Changes saved.' ),
 		) );
 
 		$scripts->add( 'plugin-install', "/wp-admin/js/plugin-install$suffix.js", array( 'jquery', 'thickbox' ), false, 1 );