2012 Tax Brackets

Last updated on: December 22, 2011 at 7:00 am by Tim

2012 Tax Brackets 2011-12-22T07:00:19-05:00 Tim

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The projected 2012 tax brackets have been calculated and shared by the Tax Foundation. The 2012 tax figures were calculated and adjusted based on the CPI-U (consumer price index for urban consumers). Since the inflation rate for the period September 2012 through August 2011 was 2.43%, that figure was used to figure the 2012 tax brackets.

Here are the 2012 tax brackets as well as the 2012 standard deduction.

Standard Deduction Increase:

• For Singles: $5,950 (up $150 from 2011)

• For Married Filing Jointly: $11,900 (up $300 from 2011)

• Heads of Household: $8,700 (up $200 from 2011)

Table 2

Key Tax Parameter Amounts for 2012

Tax Parameter 2011 Amount 2012 Amount Standard Deduction For singles $5,800 $5,950 For married filing jointly $11,600 $11,900 For heads of households $8,500 $8,700 For married filing separately $5,800 $5,950 Personal Exemption $3,700 $3,800 Tax Bracket Thresholds for Single Filers 10% rate $0 $0 15% rate $8,500 $8,700 25% rate $34,500 $35,350 28% rate $83,600 $85,650 33% rate $174,400 $178,650 35% rate $379,150 $388,350 Tax Bracket Thresholds for Heads of Households 10% rate $0 $0 15% rate $12,150 $12,400 25% rate $46,250 $47,350 28% rate $119,400 $122,300 33% rate $193,350 $198,050 35% rate $379,150 $388,350 Tax Bracket Thresholds for Married Filing Jointly 10% rate $0 $0 15% rate $17,000 $17,400 25% rate $69,000 $70,700 28% rate $139,350 $142,700 33% rate $212,300 $217,450 35% rate $379,150 $388,350 Tax Bracket Thresholds for Married Filing Separately 10% rate $0 $0 15% rate $8,500 $8,700 25% rate $34,500 $35,350 28% rate $69,675 $71,350 33% rate $106,150 $108,725 35% rate $189,575 $194,175 Source: Tax Foundation calculations using BLS CPI-U Data

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