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2011 - 2012
Income Tax Bracket Calculator
 With
the tax season approaching and our ever changing paychecks, it's
easy to calculate what tax bracket you will fall into this year with
our FREE income tax bracket calculator.
With this free and easy to use tool you can quickly determine what
tax bracket and tax rate you will fall into this year. Our income
tax bracket calculator allows you to select your filing status and
the tax year your filing to determine what tax
bracket your income puts you into.
Once this process is complete you can then use one of the FREE
Income Tax Calculator links below to estimate your additional
taxes owed or, the great big income tax return refund your
going to get!
Your next step will be to choose a
online tax filing program to prepare
and file your federal and state income tax returns. For the best
experience we recommend you stick with the market leaders
TurboTax #1 and H&R Block #2 to avoid hassles with
cumbersome poorly formatted programs that do little more than
becoming
a pain in your u-know-what.
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HR Block Online Tax
Preparation
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TurboTax Online
Tax Preparation
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Free Online IRS Federal Income Tax
Brackets
and Rates Calculator
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Calculate Income Tax Bracket
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Calculate Federal Income Tax
Bracket
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Your 2011 income tax bracket and tax rates are
based on the following tax changes that legislators have set into place for the upcoming
tax years 2011 and 2012:
- The
congressional finalized
2011 Tax Deal keeps tax rates the same thru the 2012
tax year.
- The 2001 Bush tax cuts
are kept in place for two additional years instead of raising the tax
brackets.
- Tax cuts include cuts in payroll which will
lower the 2011 Social Security paycheck withholdings.
The Bureau of Labor Statistics released the
Consumer Price Index (CPI-U) figure for August 2011,
which provided the last piece of information needed for
the calculation of the 2012 tax brackets. Projected
2012 Standard Deduction and Exemption
The standard deduction and personal exemptions are
calculated similarly (that is, using annual inflation
figures from September-August) but with different base
years (1987 for the standard deduction and 1988 for
exemptions).
The 2012 projected personal exemption is $3,800, and the
projected standard tax deductions are as follows:
- $5,950 for single taxpayers and married
taxpayers filing separately
- $11,900 for married taxpayers filing jointly
- $8,700 for taxpayers filing as head of household
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