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Estimated Income Tax Brackets and Rates
| 2017 Taxable Income Brackets and Rates (Estimate) | ||||
| Rate | Single Filers | Married Joint Filers | Head of Household Filers | Married Separate Filers |
10% | $0 to $9,325 | $0 to $18,650 | $0 to $13,350 | $0 to $9,325 |
15% | $9,326 to $37,950 | $18,651 to $75,900 | $13,351 to $50,800 | $9,326 to $37,950 |
25% | $37,951 to $91,900 | $75,901 to $153,100 | $50,801 to $131,200 | $37,351 to $76,550 |
28% | $91,901 to $191,650 | $153,101 to $233,350 | $131,201 to $212,500 | $76,551 to $116,675 |
33% | $191,651 to $416,700 | $233,351 to $416,700 | $212,501 to $416,700 | $116,676 to $208,350 |
35% | $416,701 to $418,400 | $416,701 to $470,700 | $416,701 to $444,550 | $208,351 to $235,350 |
39.6% | $418,401+ | $470,701+ | $444,551+ | $235,351+ |
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|
Filing Requirements For Most Taxpayers
| IF your filing status is. . . | AND at the end of 2016 you were . . . | THEN file a return if your gross income was at least. . . |
|---|---|---|
| Single | under 65 | $10,450 |
| 65 or older | $11,950 | |
| Head of household | under 65 | $13,400 |
| 65 or older | $14,950 | |
| Married filing jointly | under 65 (both spouses) | $20,800 |
| 65 or older (one spouse) | $22,050 | |
| 65 or older (both spouses) | $23,300 | |
| Married filing separately | any age (if your spouse itemizes deductions) | $4,050 |
| Qualifying widow(er) with dependent child | under 65 | $16,750 |
| 65 or older | $18,000 |
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NEW LAW! Beginning in 2017, if you claim the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) on your tax return, the IRS must hold your refund until at least February 15. (Click for more details)
Earned Income Tax Credit
| 2017 Earned Income Tax Credit Parameters (Estimate) | |||||
| Filing Status | No Children | One Child | Two Children | Three or More Children | |
| Single or Head of Household | Income at Max Credit | $6,670 | $10,000 | $14,040 | $14,040 |
| Maximum Credit | $510 | $3,400 | $5,616 | $6,318 | |
| Phaseout Begins | $8,340 | $18,340 | $18,340 | $18,340 | |
| Phaseout Ends (Credit Equals Zero) | $15,010 | $39,617 | $45,007 | $48,340 | |
| Married Filing Jointly | Income at Max Credit | $6,670 | $10,000 | $14,040 | $14,040 |
| Maximum Credit | $510 | $3,400 | $5,616 | $6,318 | |
| Phaseout Begins | $13,930 | $23,930 | $23,930 | $23,930 | |
| Phaseout Ends (Credit Equals Zero) | $20,600 | $45,207 | $50,597 | $53,930 |
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Standard Deduction and Personal Exemption
| 2017 Standard Deduction and Personal Exemption (Estimate) | |
| Filing Status | Deduction Amount |
| Single | $6,350.00 |
| Married Filing Jointly | $12,700.00 |
| Head of Household | $9,350.00 |
| Married Filing Separately | $6,350.00 |
| Personal Exemption | $4,050.00 |
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PEP and Pease
| 2017 Personal Exemption Phaseout (Estimate) | ||
| Filing Status | Phaseout Begin | Phaseout Complete |
| Single | $261,500.00 | $384,000.00 |
| Married Filing Jointly | $313,800.00 | $436,300.00 |
| Head of Household | $287,650.00 | $410,150.00 |
| Married Filing Separately | $156,900.00 | $218,150.00 |
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Alternative Minimum Tax
| 2017 Alternative Minimum Tax Exemptions (Estimate) | |
| Filing Status | Exemption Amount |
| Single | $54,300.00 |
| Married Filing Jointly | $84,500.00 |
| Married Filing Separately | $42,250.00 |
| Trust & Estates | $24,100.00 |