2017 Tax Tables released (Tax Year 2016)

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2017 Tax Tables released (Tax Year 2016)

The IRS have released their 2017 Tax Tables for Tax Year 2016.

The 2017 Tax Tables were released and we have them below. Source. These are the Tax Rates for 2016 Income Tax.

2017 tax tables married filing jointly

2017 tax tables married filing jointly

Unmarried Individuals (Other Than Surviving Spouses and Heads of Households)

Tax Rate 2017 Taxable Income 2016 Taxable Income
10% $0 – $9,325 $0 – $9,275
15% $9,326 – $37,950 $9,276 – $37,650
25% $37,951 – $91,900 $37,651 – $91,150
28% $91,901 – $191,650 $91,151 – $190,150
33% $191,651 – $416,700 $190,151 – $413,350
35% $416,701 – $418,400 $413,351 – $415,050
39.6% $418,401+ $415,051+

Head of Household

Tax Rate 2017 Taxable Income 2016 Taxable Income
10% $0 – $13,350 $0 – $13,250
15% $13,351 – $50,800 $13,251 – $50,400
25% $50,801 – $131,200 $50,401 – $130,150
28% $131,201 – $212,500 $130,151 – $210,800
33% $212,501 – $416,700 $210,801 – $413,350
35% $416,701 – $444,550 $413,351 – $441,000
39.6% $444,551+ $441,001+

 Married Individuals Filing Separate Returns

Tax Rate 2017 Taxable Income 2016 Taxable Income
10% $0 – $9,325 $0 – $9,275
15% $9,326 – $37,950 $9,276 – $37,650
25% $37,951 – $76,550 $37,651 – $75,950
28% $76,551 – $116,675 $75,951 – $115,725
33% $116,676 – $208,350 $115,726 – $206,675
35% $208,351 – $235,350 $206,676 – $233,475
39.6% $235,351+ $233,476+

 

Standard Deduction Amounts

Filing Status 2017 2016 Increase
Married Filing Jointly (& Surviving Spouse) $12,700 $12,600 $100
Married Filing Separately $6,350 $6,300 $50
Single $6,350 $6,300 $50
Head of Household $9,350 $9,300 $50

 

Standard Deduction for Dependents

2017 2016 Increase
$1,050 $1,050 $0

 

Personal Exemption Amounts

2017 2016 Increase
$4,050 $4,050 $0

 

Gift Tax Exclusion

2017 2016 Increase
$14,000 $14,000 $0
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