Tax Year 2012 Income Tax Brackets for Individuals

The 2012 tax season is nearing. As calendar year 2012 is drawing to its end, the time for any tax planning is getting shorter and shorter. In order to do the tax planning properly, it is essential to know what tax bracket you are likely to be in and whether you can lower this bracket.

For the year 2012, the following tax brackets apply:

Filing Single

10% $0 – $8,700
15% $8,701 – $35,350
25% $35,351 – $85,650
28% $85,651 – $178,650
33% $178,651 – $388,350
35% Over $388,350

Filing Married Filings Jointly

10% $0 – $17,400
15% $17,401 – $70,700
25% $70,701 – $142,700
28% $142,701 – $217,450
33% $217,451 – $388,350
35% Over $388,350

Filing Married Filings Separately

10% $0 – $8,700
15% $8,701 – $35,350
25% $35,351 – $71,350
28% $71,351 – $108,725
33% $108,726 – $194,175
35% $194,176 or more

Filing Head of Household

10% $0 – $12,400
15% $12,401 – $47,350
25% $47,351 – $122,300
28% $122,301 – $198,050
33% $198,051 – $388,350
35% Over $388,350