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Taxes

Tax Brackets for 2012

NOTE This information is out of date. See a listing of recent tax-related articles for more current information about taxes and their fundraising implications.

Joint returns. For married taxpayers filing jointly and surviving spouses, the maximum taxable income subject to the 10-percent bracket will rise from $17,000 in 2011, to $17,400 in 2012; the top of the 15-percent tax bracket will increase from $69,000 to $70,700. The bracket amounts for the remaining tax rates will show similarly proportionate increases: $142,700 as the maximum for the 25-percent bracket (up $3,350 from 2011); $217,450 for the 28-percent bracket (up $5,150 from 2011); and $388,350 for the 33-percent bracket (up $9,200 from 2011). Amounts above the $388,350 level will be taxed at the 35-percent rate.

Unmarried filers. For single taxpayers, the maximum taxable income for the 10-percent bracket will increase to $8,700 for 2012 (up from $8,500 in 2011). The remainder of the rate brackets show inflation increases of: $850 for the top of the 15-percent bracket (to $35,350); $2,050 for the 25-percent bracket (to $85,650); $4,250 for the 28-percent bracket (to $178,650); and $9,200 for the top of the 33-percent bracket (to $388,350).

Married filing separately. Married taxpayers filing separately will see a $200 increase for the upper limit of the 10-percent bracket (to $8,700) and an $850 increase for the 15-percent bracket (to $35,350). The top of the 25-percent bracket will increase by $1,675 (to $71,350); the top of the 28-percent bracket will increase by $2,575 (to $108,725); and the top of the 33-percent bracket will increase by $4,600 (to $194,175).

Heads of household. For heads of households, the maximum taxable income for the 10-percent bracket will see a $250 increase from $12,150 in 2011 to $12,400 in 2012. The top of the remainder of the bracket amounts will increase as follows: up $1,100 from 2011 for the 15-percent bracket, to $47,350; up $2,900 from 2011 for the 25-percent bracket, to $122,300; up $4,700 from 2011 for the 28-percent bracket, to $198,050; and up $9,200 from 2011 for the top of the 33-percent bracket, to $388,350.

Estates and trusts. For estates and nongrantor trusts, there will be a slight increase in all the rate bracket amounts from 2011 levels as follows: up $100 from $2,300 in 2011 to $2,400 in 2012 for the 15-percent bracket; up $150 from 2011 for the 25-percent bracket, to $5,600; up $200 from 2011 for the 28-percent bracket, to $8,500; up $300 from 2011 for the 33-percent bracket, to $11,650.