TAX RATES & DEDUCTIONS FOR 2015 TAX RETURNS/ FILED IN 2016:
TAX RATES:
SINGLE: TAXABLE INCOME
0 to 9225 X 10% Minus 0.00 Equals TAX
9226 to 37450 X 15% Minus 461.25 Equals TAX
37451 to 90750 X 25% Minus 4206.25 Equals TAX
90751 to 189300 X 28% Minus 6928.75 Equals TAX
189301 to 411500 X 33% Minus 16393.75 Equals TAX
411501 to 413200 X 35% Minus 24623.75 Equals TAX
413201 and up X 39.60% Minus 43630.95 Equals TAX
MFJ/QW:TAXABLE INCOME
0 to 18450 X 10% Minus 0.00 Equals TAX
18451 to 74900 X 15% Minus 922.50 Equals TAX
74901 to 151200 X 25% Minus 8412.50 Equals TAX
151201 to 230450 X 28% Minus 12948.50 Equals TAX
230451 to 411500 X 33% Minus 24471.50 Equals TAX
411501 to 464850 X 35% Minus 32701.00 Equals TAX
464851 and up X 39.60% Minus 54084.10 Equals TAX
HOH: TAXABLE INCOME
0 to 13150 X 10% Minus 0.00 Equals TAX
13151 to 50200 X 15% Minus 657.50 Equals TAX
50201 to 129600 X 25% Minus 5677.50 Equals TAX
129601 to 209850 X 28% Minus 9565.50 Equals TAX
209851 to 411500 X 33% Minus 20058.00 Equals TAX
411501 to 439000 X 35% Minus 28288.00 Equals TAX
439001 and up X 39.60% Minus 48482.00 Equals TAX
MFS: TAXABLE INCOME
0 to 9225 X 10% Minus 0.00 Equals TAX
9226 to 37450 X 15% Minus 461.25 Equals TAX
37451 to 75600 X 25% Minus 4206.25 Equals TAX
75601 to 115225 X 28% Minus 6474.25 Equals TAX
115226 to 205750 X 33% Minus 12235.50 Equals TAX
205751 to 232425 X 35% Minus 16350.50 Equals TAX
232426 and up X 39.60% Minus 27042.05 Equals TAX
STANDARD DEDUCTIONS:
SINGLE/MFS 6300
MFJ/QW 12600
HOH 9250
Additional added if 65 or older or blind/per person, per event:
MFJ/QW/MFS plus 1250
S/HOH plus 1550
PERSONAL EXEMPTIONS: 4000 Per Person
STANDARD MILEAGE RATES:
BUSINESS 57.5 Cents per Mile
CHARITABLE 14 Cents per Mile
MEDICAL 23 Cents per Mile
MOVING 23 Cents per Mile
EIC MAXIMUM INCOME LIMITS:
CHILDREN: NONE 1 2 3
MFJ 20330 44651 49974 53267
S/HOH/QW 14820 39131 44454 47747
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