2012 Tax Brackets

2012 Tax Brackets December 22, 2011

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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