Reference Room

Shaded numbers are based on unofficial calculations; TBD  means numbers are to be determined from data not yet available.

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, 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 2007 2008 2009
Personal exemptions $3,400 $3,500 $3,650
Standard deduction
  married filing jointly
  head of household
  single or separate
10,700
7,850
5,350
10,900
8,000
5,450
11.400
8,350
5,700
Additional amount for aged or blind
  married
  single

1,050
1,300

1,050
1,350

1,100
1,400
Kiddie tax exemption 850 900 950
Gift tax exclusion
  individual
  non-citizen spouse
12,000
125,000
12,000
128,000
13,000
133,000
Standard mileage rates
  Business
  Medical and moving
  Charitable
July 1 to December 31, 2008
  Business
  Medical and moving
  Charitable
48.5¢
20.0¢
14.0¢
50.5¢
19.0¢
14.0¢

58.5¢
27.0¢
14.0¢
55.0¢
24.0¢
14.0¢
AMT exemption amount
  married filing jointly
  single
66,250
44,350
69,950
46,200
TBD
TBD = to be determined (data not yet available).
Changes in AMT exemption amount due to legislation, not inflation adjustment.
2009 Tax Rate Schedules
For tax year 2009 (returns filed in 2010)
 Click here for 2008 rate schedules
 
 

Single
Taxable income is over But not over The tax is Plus Of the amount over
$0 8,350 $0.00 10% $0
8,350 33,950 835.00 15% 8,350
33,950 82,250 4,675.00 25% 33,950
82,250 171,550 16,750.00 28% 82,250
171,550 372,950 41,754.00 33% 171,550
372,950   108,216.00 35% 372,950

 

Married Filing Jointly
Qualifying Widow(er)
Taxable income is over But not over The tax is Plus Of the amount over
$0 16,700 $0.00 10% $0
16,700 67,900 1,670.00 15% 16,700
67,900 137,050 9,350.00 25% 67,900
137,050 208,850 26,637.50 28% 137,050
208,850 372,950 46,741.50 33% 208,850
372,950   100,894.50 35% 372,950

 

Head of Household
Taxable income is over But not over The tax is Plus Of the amount over
$0 11,950 $0.00 10% $0
11,950 45,500 1,195.00 15% 11,950
45,500 117,450 6,227.50 25% 45,500
117,450 190,200 24,215.00 28% 117,450
190,200 372,950 44,585.00 33% 190,200
372,950   104,892.50 35% 372,950

 

Married Filing Separately
Taxable income is over But not over The tax is Plus Of the amount over
$0 8,350 $0.00 10% $0
8,350 33,950 835.00 15% 8,350
33,950 68,525 4,675.00 25% 33,950
68,525 104,425 13,318.75 28% 68,525
104,425 186,475 23,370.75 33% 104,425
186,475   50,447.25 35% 186,475

 

Retirement Savings 2007 2008 2009
IRA contributions
  under age 50
  50 or older
4,000
5,000
5,000
6,000
5,000
6,000
Roth IRA phase-out begins
  single
  married filing jointly
99,000
156,000
101,000
159,000
105,000
166,000
401k contributions
  under age 50
  50 or older
15,500
20,500
15,500
20,500
16,500
22,000
SIMPLE accounts 10,500 10,500 11,500
Social security wage base 97,500 102,000 106,800 
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


31,000
34,000
52,000

23,250
25,500
39,000

15,500
17,000
26,000


32,000
34,500
53,000

24,000
25,875
39,750

16,000
17,250
26,500


33,000
36,000
55,500

24,750
27,000
41,625

16,500
18,000
27,750
TBD = to be determined (data not yet available).
IRA contribution change for 2008 due to legislation, not inflation adjustment.
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%

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