|
Single |
|
If taxable income is
between: |
|
$1 |
to |
$7,150 |
X |
10% |
minus |
$0.00 |
= Tax |
|
$7,151 |
to |
$29,050 |
X |
15% |
minus |
$357.50 |
= Tax |
|
$29,051 |
to |
$70,350 |
X |
25% |
minus |
$3,262.50 |
= Tax
|
|
$70,351 |
to |
$146,750 |
X |
28% |
minus |
$5,373.00 |
= Tax
|
|
$146,751 |
to |
$319,100 |
X |
33% |
minus |
$12,710.50 |
= Tax |
|
$319,101 |
to |
............. |
X |
35% |
minus |
$19,092.50 |
= Tax |
|
|
Head of Household |
|
If taxable income is
between: |
|
$1 |
to |
$10,200 |
X |
10% |
minus |
$0.00 |
= Tax |
|
$10,201 |
to |
$38,900 |
X |
15% |
minus |
$510.00 |
= Tax |
|
$38,901 |
to |
$100,500 |
X |
25% |
minus |
$4,400.00 |
= Tax |
|
$100,501 |
to |
$162,700 |
X |
28% |
minus |
$7,415.00 |
= Tax |
|
$162,701 |
to |
$319,100 |
X |
33% |
minus |
$15,550.00 |
= Tax |
|
$319,101 |
to |
............. |
X |
35% |
minus |
$21,932.00 |
= Tax |
|
|
Married
Filing Jointly or Qualifying Widow(er) |
|
If taxable income is
between: |
|
$1 |
to |
$14,300 |
X |
10% |
minus |
$0.00 |
= Tax |
|
$14,301 |
to |
$58,100 |
X |
15% |
minus |
$715.00 |
= Tax |
|
$58,101 |
to |
$117,250 |
X |
25% |
minus |
$6,525.00 |
= Tax |
|
$117,251 |
to |
$178,650 |
X |
28% |
minus |
$10,042.50 |
= Tax |
|
$178,651 |
to |
$319,100 |
X |
33% |
minus |
$18,975.00 |
= Tax |
|
$319,101 |
to |
............. |
X |
35% |
minus |
$25,357.00 |
= Tax |
|
|
Married
Filing Separately |
|
If taxable income is
between: |
|
$1 |
to |
$7,150 |
X |
10% |
minus |
$0.00 |
= Tax |
|
$7,151 |
to |
$29,050 |
X |
15% |
minus |
$357.50 |
= Tax |
|
$29,051 |
to |
$58,625 |
X |
25% |
minus |
$3,262.50 |
= Tax |
|
$58,626 |
to |
$89,325 |
X |
28% |
minus |
$5,021.25 |
= Tax |
|
$89,326 |
to |
$159,550 |
X |
33% |
minus |
$9,487.50 |
= Tax |
|
$159,551 |
to |
............. |
X |
35% |
minus |
$12,678.50 |
= Tax |
|
|
Example Tax Calculation |
| Joe is a SINGLE taxpayer
and has taxable income in the amount of $43,500. What is his
regular Federal income tax? |
|
Using the
2004 regular income tax rate schedule above: |
|
$43,500 X
25%
= $10,875 - $3,262.50 =
$7,612.50 |
|
|
 |
The IRS tax tables MUST be used for taxable income LESS THAN
$100,000. |
|
|
