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UPDATED FOR INFLATION INDEXES: 2013 IRS Federal Tax Rate Brackets for all four individual filing statuses.

The IRS has released the finalized 2013 IRS Federal Tax Brackets Rates in IRS-Revenue-Procedure 2013-15. These rates are final and adjusted or inflation.

We have provided a one-page PDF 2013 IRS FEDERAL TAX BRACKET RATES FINALIZED for all four individual filing status for reference and sharing.

If you don’t wish to download the PDF, you can just view the updated tax brackets below.

2013 IRS Federal Tax Rate Brackets for Married Filing Joint

 

2013 IRS Federal Tax Rate Brackets for Heads of Household

 

2013 IRS Federal Tax Rate Brackets for Unmarried, single tax filers

 

2013 IRS Federal Tax Rate Brackets for married individuals filing separately

 

Other changes indexed for inflation

This IRS Revenue Procedure update  also sets forth other inflation-adjusted items for 2013 according to the American Taxpayer Relief Act of 2012 (ATRA) which also includes the beginning income levels for the limitation on certain itemized deductions; and the beginning income levels for the phaseout of personal exemptions.

 

Calculating your actual income tax rate

There is really only one one to calculated you income tax rate. These guides are only a rough estimate. You may be subject to the Alternative minimum tax, which could increase your tax rate, or you may have income in the form of dividends or capital gains which is taxes at a lower rate than income.

 

These brackets are only for Federal Income taxes

Further making it difficult to estimate your taxes is that these tax rates are for Federal Taxes only. But the IRS collects far more than just Federal income taxes. The IRS also collects Social Security and Medicare taxes (known as “payroll taxes“). Not that it matters much to taxpayers — while the money the IRS supposedly is sent to various government agencies, the money is taken from one place: the taxpayers.

 

Other increases of note:

  • ATRA limits itemized deductions claimed on 2013 returns of individuals with incomes of $250,000 or more ($300,000 for married couples filing jointly). This is in senses a “stealth” tax increase on those making over $250,000/300,000)
  • The personal exemption rises to $3,900, up from the 2012 exemption of $3,800. However, again because of ATRA,  the exemption is subject to a phase-out that begins with adjusted gross incomes (AGI) of $150,000 ($300,000 for married couples filing jointly). The exemption phases out completely at $211,250 ($422,500 for married couples filing jointly.) This is another “stealth ” tax increase as it will increase the effective tax rate.
  • The Alternative Minimum Tax exemption amount for tax year 2013 is $51,900 ($80,800, for married couples filing jointly), set ATRA, which indexes future amounts for inflation. The 2012 exemption amount was $50,600 ($78,750 for married couples filing jointly). This should fix the AMT so fewer taxpayers are subject to it.
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