Internal Revenue Service 2012 tax table:
| Tax Bracket | Married Filing Jointly | Single |
|---|---|---|
| 10% Bracket | $0 – $17,400 | $0 – $8,700 |
| 15% Bracket | $17,400 – $70,700 | $8,700 – $35,350 |
| 25% Bracket | $70,700 – $142,700 | $35,350 – $85,650 |
| 28% Bracket | $142,700 – $217,450 | $85,650 – $178,650 |
| 33% Bracket | $217,450 – $388,350 | $178,650 – $388,350 |
| 35% Bracket | Over $388,350 | Over $388,350 |
And here are a few related points:
- The personal and dependency exemption will rise to $3,800
- The standard deduction for married filing jointly will rise to $11,900
- The standard deduction for singles will rise to $5,950
