IRS 2012 and 2013 Tax Tables (Federal Income Tax Rates)

IRS 2012 and 2013 Tax Tables (Federal Income Tax Rates)
By , on November 18, 2012

The following article contains information about the federal income tax rates for 2011, 2012, and 2013.

  • Use 2012 rates to prepare and file your 2012 tax return in early 2013.
  • Use 2013 rates to plan for 2013 tax year.

To the extent that the information in this article helps summarize the changes in Federal Income Tax, you should consult the official IRS.gov web site and a professional tax advisor as needed.

Federal Tax Rates Schedule For Tax 2011, 2012, 2013 Years

The table below gives you the marginal tax brackets for single, married couples filing jointly, qualifying widowers, married filing separately, head of household, as well as the long-term capital gains and qualified dividend tax rates. The income numbers listed are taxable incomes, and thus they have taken into consideration all available personal exemptions as well as any of either the standard or itemized deductions.

2013 Federal Income Tax Brackets

For 2013, there are a few noteworthy changes:

  • Social security tax goes back up from 4.2% to 6.2% for everyone.
  • A new 39.6% bracket is added for high income earners.
  • A new 20% long-term capital gains and qualified dividend tax rate is added for high income earners.
  • Medicare tax for wage earnes stay the same at 2.9%, but increases to 3.8% for wage income in excess of $200,000.
  • A new 3.8% Medicare tax on unearned income.
Income Tax Single Married Filing Jointly /
Qualifying Widower		 Married Filing Separately Head of Household LTCG/
QD*
Rate over up to over up to over up to over up to Rate
10% 0 8,925 0 17,850 0 8,925 0 12,750 0%
15% 8,925 36,250 17,850 72,500 8,925 36,250 12,750 48,600 0%
25% 36,250 87,850 72,500 146,400 36,250 73,200 48,600 125,450 15%
28% 87,850 183,250 146,400 223,050 73,200 111,525 125,450 203,150 15%
33% 183,250 398,350 223,050 398,350 111,525 199,175 203,150 398,350 15%
35% 398,350  400,000 398,350  450,000 199,175  225,000 398,350   425,000 15%
39.6% 400,000  450,000  225,000  425,000 20%

* Long-Term Capital Gains and Qualified Dividend

2012 Federal Income Tax Brackets

Income Tax Single Married Filing Jointly /
Qualifying Widower		 Married Filing Separately Head of Household LTCG/
QD*
Rate over up to over up to over up to over up to Rate
10% 0 8,700 0 17,400 0 8,700 0 12,400 0%
15% 8,700 35,350 17,400 70,700 8,700 35,350 12,400 47,350 0%
25% 35,350 85,650 70,700 142,700 35,350 71,350 47,350 122,300 15%
28% 85,650 178,650 142,700 217,450 71,350 108,725 122,300 198,050 15%
33% 178,650 388,350 217,450 388,350 108,725 194,175 198,050 388,350 15%
35% 388,350 388,350 194,175 388,350 15%

The numbers for previous years are also provided below to let you see the changes.

2011 Federal Income Tax Brackets

Income Tax Single Married Filing Jointly /
Qualifying Widower		 Married Filing Separately Head of Household LTCG/
QD*
Rate over up to over up to over up to over up to Rate
10% 0 8,500 0 17,000 0 8,500 0 12,150 0%
15% 8,500 34,500 17,000 69,000 8,500 34,500 12,150 46,250 0%
25% 34,500 83,600 69,000 139,350 34,500 69,675 46,250 119,400 15%
28% 83,600 174,400 139,350 212,300 69,675 106,150 119,400 193,350 15%
33% 174,400 379,150 212,300 379,150 106,150 189,575 193,350 379,150 15%
35% 379,150 379,150 189,575 379,150 15%

How to Calculate Your Tax Liability

Let’s take a moment to show you how to calculate your Federal income tax liability so that you can better understand how tax brackets work. Let’s look at the following example using 2012 rates, suppose your taxable income (after deductions and exemptions) is exactly $100,000 and your status is Single; then your tax would be calculated like this:

( $8,700 minus $0 ) x 10% = $870.00
( $35,350 minus $8,700 ) x 15% = $3,997.50
( $85,650 minus $35,350 ) x 25% = $12,575.00
( $100,000 minus $85,650 ) x 28% = $4,018.00
Total: $ 21,460.50

The $100,000 taxable income puts you in the 28% tax bracket, since that’s the highest rate applied to any of your income; but your effective tax rate as a percentage of $100,000 is 21.46%. Comparing 2011 tax rates, you are paying $156.50 less tax in 2012 for the same income.

Although the information in this article helps summarize the changes in Federal Income Tax, you should consult the official IRS.gov web site and a professional tax advisor as needed.

About the Author

Pinyo
Pinyo is the owner of Moolanomy Personal Finance and an entrepreneur with over 20 years of business experience. He has a strong appreciation for business management, investing, and wealth building. He has written for many online publications, including American Express and U.S. News.

2013 Tax Center

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2013 Important Tax and Filing Dates

Leave Your Comment (One Comment)

  1. Kent McMillen says:
    January 15, 2013 at 11:23 pm

    I want to pay 14% rate, like Mitt Romney!

    Reply

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