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 (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 2008 2009 2010
Personal exemptions $3,500 $3,650 $3,650
Standard deduction
  married filing jointly
  head of household
  single or separate
10,900
8,000
5,450
11.400
8,350
5,700
11.400
8,400
5,700
Additional amount for aged or blind
  married
  single

1,050
1,350

1,100
1,400

1,100
1,400
Kiddie tax exemption 900 950 950
Gift tax exclusion
  individual
  non-citizen spouse
12,000
128,000
13,000
133,000
13,000
134,000
Standard mileage rates
  Business
  Medical and moving
  Charitable
July 1 to December 31, 2008
  Business
  Medical and moving
  Charitable
50.5¢
19.0¢
14.0¢

58.5¢
27.0¢
14.0¢
55.0¢
24.0¢
14.0¢
50.0¢
16.5¢
14.0¢
AMT exemption amount
  married filing jointly
  single
69,950
46,200
70,950
46,700
TBD
TBD
TBD = to be determined (data not yet available).
Changes in AMT exemption amount due to legislation, not inflation adjustment.
2010 Tax Rate Schedules
For tax year 2010 (returns filed in 2011)
 Click here for 2009 rate schedules
 
 

Single
Taxable income is over But not over The tax is Plus Of the amount over
$0 8,375 $0.00 10% $0
8,375 34,000 837.50 15% 8,375
34,000 82,400 4,681.25 25% 34,000
82,400 171,850 16,781.25 28% 82,400
171,850 373,650 41,827.25 33% 171,850
373,650   108,421.25 35% 373,650

 

Married Filing Jointly
Qualifying Widow(er)
Taxable income is over But not over The tax is Plus Of the amount over
$0 16,750 $0.00 10% $0
16,750 68,000 1,675.00 15% 16,750
68,000 137,300 9,362.50 25% 68,000
137,300 209,250 26,687.50 28% 137,300
209,250 373,650 46,833.50 33% 209,250
373,650   101,085.50 35% 373,650

 

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 45,550 1,195.00 15% 11,950
45,550 117,650 6,235.00 25% 45,550
117,650 190,550 24,260.00 28% 117,650
190,550 373,650 44,672.00 33% 190,550
373,650   105,095.00 35% 373,650

 

Married Filing Separately
Taxable income is over But not over The tax is Plus Of the amount over
$0 8,375 $0.00 10% $0
8,375 34,000 837.50 15% 8,375
34,000 68,650 4,681.25 25% 34,000
68,650 104,625 13,343.75 28% 68,650
104,625 186,825 23,416.75 33% 104,625
186,825   50,542.75 35% 186,825

 

Retirement Savings 2008 2009 2010
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
101,000
159,000
105,000
166,000
105,000
167,000
401k contributions
  under age 50
  50 or older
15,500
20,500
16,500
22,000
16,500
22,000
SIMPLE accounts 10,500 11,500 11,500
Social security wage base 102,000 106,800  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


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


33,500
36,000
55,500

25,125
27,000
41,625

16,750
18,000
27,750
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%

Related