2016 Individual Income Tax Rate Schedules

Posted by lgtcpa on Jun 27, 2016

Even though we are half-way through 2016, there is still plenty of time to make changes to your tax planning. Refer to the chart below for some key tax brackets and phaseout considerations.

Tax Rate

Regular Tax Brackets

 

Single

Head of household

Married filing jointly
or surviving spouse

Married filing separately

10%

$0 - $9,275

$0 - $13,250

$0 - $18,550

$0 - $9,275

15%

$9,276 - $37,650

$13,251 - $50,400

$18,551 - $75,300

$9,276 - $37,650

25%

$37,651 - $91,150

$50,401 - $130,150

$75,301 - $151,900

$37,651 - $75,950

28%

$91,151 - $190,150

$130,151 - $210,800

$151,901 - $231,450

$75,951 - $115,725

33%

$190,151 - $413,350

$210,801 - $413,350

$231,451 - $413,350

$115,726 - $206,675

35%

$413,351 - $415,050

$413,351 - $441,000

$413,351 - $466,950

$206,676 - $233,475

39.6%

Over $415,050

Over $441,000

Over $466,950

Over $233,475

 

Tax Rate

AMT Brackets

 

Single

Head of household

Married filing jointly
or surviving spouse

Married filing separately

26%

$0 - $186,300

$0 - $186,300

$0 - $186,300

$0 - $93,150

28%

Over $186,300

Over $186,300

Over $186,300

Over $93,150

 

AMT Exemptions

 

Single

Head of household

Married filing jointly
or surviving spouse

Married filing separately

Amount

$53,900

$53,900

$83,800

$41,900

Phaseout1

$119,700 - $335,300

$119,700 - $335,300

$159,700 - $494,900

$79,850 - $247,450

http://www.webtaxguide.net/LGT/Charts/Chart-Indiv-Income-Tax-Rate-2016.html

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Seek the services of a legal or tax adviser before implementing any ideas contained in this blog. 

 

Topics: Tax