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Single 2012 Projected Tax Brackets

Taxable Income

Marginal Tax Rate:

$0-$8,700

10%

$8,701-$35,350

15%

$35,351-$85,650

25%

$85,651-$178,650

28%

$178,651-$388,350

33%

$388,351+

35%

Married Filing Jointly 2012 Projected Tax Brackets

Taxable Income

Marginal Tax Rate:

$0-$17,400

10%

$17,401-$70,700

15%

$70,701-$142,700

25%

$142,701-$217,450

28%

$217,451-$388,350

33%

$388,351+

35%

Head of Household 2012 Projected Tax Brackets

Taxable Income

Marginal Tax Rate:

$0-$12,400

10%

$12,401-$47,350

15%

$47,351-$122,300

25%

$122,301-$198,050

28%

$198,051-$388,350

33%

$388,351+

35%

Married Filing Separately 2012 Projected Tax Brackets

Taxable Income

Marginal Tax Rate:

$0-$8,700

10%

$8,701-$35,350

15%

$35,351-$71,350

25%

$71,351-$108,725

28%

$108,726-$194,175

33%

$194,176+

35%

Projected 2012 Standard Deduction and Exemption

The standard deduction and personal exemptions are calculated similarly (that is, using annual inflation figures from September-August) but with different base years (1987 for the standard deduction and 1988 for exemptions).

For 2012 the projected personal exemption is $3,800, and the projected standard deductions are:

bullet$5,950 for single taxpayers and married taxpayers filing separately,
bullet$11,900 for married taxpayers filing jointly, and
bullet$8,700 for taxpayers filing as head of household.

The additional standard deduction for taxpayers who are blind or over age 65 is projected to remain unchanged at $1,450 for single taxpayers and $1,150 for married taxpayers.

 

 

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Last modified: November 21, 2011