Reference Room

Shaded numbers are unofficial; TBD  means numbers are to be determined from data not yet available. Tax rate schedules for 2011 and the AMT exemption amounts set forth below are now official.

Our reference room provides an easy way to find information on the following:

  • Key tax numbers that are adjusted from time to time for inflation, such as personal exemptions and the standard deduction.
  • Tax rate schedules (tax brackets) including the latest available schedules and links to prior year schedules.
  • Retirement savings, including limits on IRA and 401k contributions.
  • Interest rates that are used to calculate the penalty for underpayment of estimated tax and interest on underpayments and overpayments of individual taxpayers.
Key Tax Numbers 2009 2010 2011
Personal exemptions $3,650 $3,650 $3,700
Standard deduction
  married filing jointly
  head of household
  single or separate

11.400
8,350
5,700

11.400
8,400
5,700

11.600
8,500
5,800
Additional amount for aged or blind
  married
  single


1,100
1,400


1,100
1,400


1,150
1,450
Kiddie tax exemption 950 950 950
Gift tax exclusion
  individual
  non-citizen spouse

13,000
133,000

13,000
134,000

13,000
136,000
Standard mileage rates
  Business
      Basis reduction
  Medical and moving
  Charitable
 

55.0
21.0
24.0
14.0

50.0
23.0
16.5
14.0

51.0/55.5
22.0/????
19.0/23.5
14.0
changes 7/1/11
AMT exemption amount
  married filing jointly
  single

70,950
46,700

72,450
47,450

74,450
48,450
TBD = to be determined (data not yet available).
Changes in AMT exemption amount due to legislation, not inflation adjustment.
2011 Tax Rate Schedules
For tax year 2011 (returns filed in 2012)
 Click here for 2010 rate schedules
Unofficial, as calculated based on the tax extension law
 
 

Single

Taxable income is over But not over The tax is Plus Of the amount over
$0 8,500 $0.00 10% $0
8,500 34,500 850.00 15% 8,500
34,500 83,600 4,750.00 25% 34,500
83,600 174,400 17,025.00 28% 83,600
174,400 379,150 42,449.00 33% 174,400
379,150   110,016.50 35% 379,150

 

Married Filing Jointly
Qualifying Widow(er)

Taxable income is over But not over The tax is Plus Of the amount over
$0 17,000 $0.00 10% $0
17,000 69,000 1,700.00 15% 17,000
69,000 139,350 9,500.00 25% 69,000
139,350 212,300 27,087.50 28% 139,350
212,300 379,150 47,513.50 33% 212,300
379,150   102,574.00 35% 379,150

 

Head of Household

Taxable income is over But not over The tax is Plus Of the amount over
$0 12,150 $0.00 10% $0
12,150 46,250 1,215.00 15% 12,150
46,250 119,400 6,330.00 25% 46,250
119,400 193,350 24,617.50 28% 119,400
193,350 379,150 45,323.50 33% 193,350
379,150   106,637.50 35% 379,150

 

Married Filing Separately

Taxable income is over But not over The tax is Plus Of the amount over
$0 8,500 $0.00 10% $0
8,500 34,500 850.00 15% 8,500
34,500 69,675 4,750.00 25% 34,500
69,675 106,150 13,543.75 28% 69,675
106,150 189,575 23,756.75 33% 106,150
189,575   51,287.00 35% 189,575

 

Retirement Savings 2009 2010 2011
IRA contributions
  under age 50
  50 or older

5,000
6,000

5,000
6,000

5,000
6,000
Roth IRA phase-out begins
  single
  married filing jointly

105,000
166,000

105,000
167,000

107,000
169,000
401k contributions
  under age 50
  50 or older

16,500
22,000

16,500
22,000

16,500
22,000
SIMPLE accounts 11,500 11,500 11,500
Social security wage base 106,800  106,800 106,800
Retirement savings contribution credit
  Married filing jointly
    50% credit up to
    20% credit up to
    10% credit up to
  Head of household
    50% credit up to
    20% credit up to
    10% credit up to
  Other taxpayers
    50% credit up to
    20% credit up to
    10% credit up to



33,000
36,000
55,500

24,750
27,000
41,625

16,500
18,000
27,750



33,500
36,000
55,500

25,125
27,000
41,625

16,750
18,000
27,750



34,000
36,500
56,500

25,500
27,375
42,375

17,000
18,250
28,250
TBD = to be determined (data not yet available).
Underpayment Rates
Rates used to calculate penalty for underpayment of
estimated tax and interest on tax underpayments
and overpayments for individuals
First quarter 2004 4%
Second quarter 2004 5%
Third quarter 2004 4%
Fourth quarter 2004 5%
First quarter 2005 5%
Second quarter 2005 6%
Third quarter 2005 6%
Fourth quarter 2005 7%
First quarter 2006 7%
Second quarter 2006 7%
Third quarter 2006 8%
Fourth quarter 2006 8%
First quarter 2007 8%
Second quarter 2007 8%
Third quarter 2007 8%
Fourth quarter 2007 8%
First quarter 2008 7%
Second quarter 2008 6%
Third quarter 2008 5%
Fourth quarter 2008 6%
First quarter 2009 5%
Second quarter 2009 4%
Third quarter 2009 4%
Fourth quarter 2009 4%
First quarter 2010 4%
Second quarter 2010 4%
Third quarter 2010 4%
Fourth quarter 2010 4%
First quarter 2011 3%
Second quarter 2011 4%
Third quarter 2011 4%
Fourth quarter 2011 3%

@Fairmark

 


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