2011 tax rates and 2011 tax brackets

The 2011 tax rates and 2011 tax brackets are now finalized. The updated federal tax tables for all filing statuses are available for 2011 below.

2011 Tax Rate Changes

Now that the 2011 Tax Deal is finalized, the 2011 tax rates are available for tax planning.

The 2011 tax rates kept the 2001 Bush tax cuts in place instead of raising taxes for all the tax brackets.

In addition, there is no distinction in the 2011 federal tax brackets for those earning more than $250,000, which was in the original 2010 budget proposal.

The new tax cuts also include a 2011 Payroll Tax Cut, which will change your paycheck by lowering your 2011 Social Security tax rate.

2011 Tax Calculator

How much will my taxes go up in 2011? That’s a frequent question readers have. To figure out what your taxes will look like in 2011, you can use the 2011 Tax Calculator.

2011 Tax Rates & Tax Brackets

The IRS recently released the federal income tax rates for 2011. Here is what the 2011 tax brackets look like:

Tax Rate Single Married Filing Joint Married Filing Separate Head of Household
10% Up to $8,500 Up to $17,000 Up to $8,500 Up to $12,150
15% $8,501 – $34,500 $17,001 – $69,000 $8,501 – $34,500 $12,151 – $46,250
25% $34,501 – $83,600 $69,001 – $139,350 $34,501 – $69,675 $46,251 – $119,400
28% $83,601 – $174,400 $139,351 – $212,300 $69,676 – $106,150 $119,401 – $193,350
33% $174,401 – $379,150 $212,301 – $379,150 $106,151 – $189,575 $193,351 – $379,150
35% Over $379,150 Over $379,150 Over $189,575 Over $379,150

In addition to the tax brackets above, you may owe tax under the alternative minimum tax. You can review the 2011 AMT exemption to see if it will apply to you.

The 2011 tax tables updated the 2011 tax rate projections originally published. We used the proposed 2011 tax rates for planning before the current 2011 tax tables from the IRS were published.

Source: Mydollarplan.com


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Posted by on Feb 22 2011. Filed under Taxes. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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