Tax Questions

2011 Tax Brackets

If you are filing your 2011 tax return in 2012 then the tax brackets you need are 2011 tax brackets, not 2012 tax brackets. The 2011 tax brackets will be used for preparing tax returns in the year 2012. The same tax rates for 2010 have been extended to apply to the years 2011 as well as 2012. The Tax Relief Act of 2010 temporarily extends the existing tax rate structure for two more years. The 2011 tax returns will be due April 17, 2012 (since April 15th is on a Sunday and the next Monday is a federal holiday). The 2011 tax brackets are shown below.

10% on taxable income from $0 to $8,500, plus
15% on taxable income over $8,500 to $34,500, plus
25% on taxable income over $34,500 to $83,600, plus
28% on taxable income over $83,600 to $174,400, plus
33% on taxable income over $174,400 to $379,150, plus
35% on taxable income over $379,150.

The table below also shows the 2011 tax brackets clearly.

Tax Brackets 2011

For more information on 2011 tax brackets, please refer to the 2011 Tax Bracket Chart.