What is the Income Tax Rate 2013 in USA? Income tax Rates, Standard Deduction and Allowances for 2013 United States of America

 

USA Income Tax Rates 2013 and Standard Deduction as per IRS Announcement

 

Income Tax Rate for Individual Tax Payers

Taxable Income

Tax Rate %

$0-$8,925

10%

$8,926-$36,250

$892.50+15% on amount excess over $8,925

$36,251-$87,850

$4,991.25+25% on amount excess over $36,250

$87,851-$183,250

$17,891.25+28% on amount excess over $87,850

$183,251-$398,350

$44,603.25+33% on amount excess over $183,250

$398,351-$400,000

$115,586.25+35% on amount excess over $398,350

$400,001 and above

$116,163.75+39.60% on amount excess over $4,00,000

 USA Income Tax Rate 2013 for Household Head

Taxable Income

Tax Rate %

$0-$12,750

10%

$12,751-$48,600

$1275+15% on amount excess over $12,750

$48,601-$125,450

$6,652.50+25% on amount excess over $48,600

$125,451-$203,150

$25,865+28% on amount excess over $125,450

$203,051-$398,350

$47,621+33% on amount excess over $203,150

$398,351-$425,000

$112,037+35% on amount excess over $398,350

$425,001 and above

$121,364.50+39.60% on amount excess over $4,25,000

USA Income Tax Rate 2013 for Married Tax Payers filing Returns Separately

Taxable Income

Tax Rate %

$0-$8,925

10%

$8,926-$36,250

$892.50+15% on amount excess over $8,925

$36,251-$73,200

$4,991.25+25% on amount excess over $36,250

$73,201-$111,525

$14,228.75+28% on amount excess over $73,200

$111,526-$199,175

$24,959.25+33% on amount excess over $111,525

$199,176-$225,000

$53,884.25+35% on amount excess over $1,99,175

$2,25,000 and above

$62,923+39.60% on amount excess over $2,25,000

 

 

 

USA Income tax Rates 2013 for Joint filing by married tax payers

Taxable Income

Tax Rate %

$0-$17,850

10%

$17,851-$72,500

$1,785+15% on amount excess over $17,850

$72,501-$1,46,400

$9,982.50+25% on amount excess over $72,500

$1,46,401-$223,050

$28,457.50+28% on amount excess over $146,400

$223,051-$398,350

$49,919.50+33% on amount excess over $223,050

$398,351-$450,000

$107,768.50+35% on amount excess over $398,350

$450,001 and above

$125,846+39.6% on amount excess over $4,50,000

Standard Deduction Rates for 2013 in USA

Married Tax Payers Filing Jointly                              - $12,200

Head of Household                                                  -$8,950

Individual Tax Payers                                               -$6,100

Married Tax Payers filing separate                              -$6,100

Additional Tax Deduction for the Blind or Aged           -$1,200

Tax payer is single and not surviving a wife                 -$1,500

For purposes of the standard deduction, the amount under Section 63(c)(5) for an individual who may be claimed as a dependent by another taxpayer cannot exceed the greater of $1,000 OR ($350 + the individualís earned income).

USA Itemized Income Tax Deduction Amount for 2013

Married Tax Payers filing Jointly                             -$2,75,000

Household Head                                                    -$2,50,000

Individual Tax Payers                                             -$1,50,000

Married Tax Payer filing Separately                          -$1,50,000

USA Alternative Minimum Tax Amount for 2013

Married Tax Payers filing jointly                               -$80,800

Household Head                                                      -$51,900

Individual Tax Payers                                               -$40,400

Married Tax Payer filing separately                            -$40,400

USA Personal Exemption Amount for 2013

The personal exemption amount is $3,900. PEP (personal exemption phaseouts)

USA Foreign Earned Income Exclusion 2013

Foreign Earned Income Exclusion (FEIE)                 -$97,600 ($95,100 for 2012)

USA Earned Income Credit (EITC) for 2013

Particulars

0 Kid

1 Kid

2 Kids

3 Kids and More

Earned Income

$6,370

$9,560

$13,430

$13,430

Maximum Credit

$487

$3,250

$5,372

$6,044

Phase out for Single or Household Head

$7,970-$14,340

$17,530-$37,870

$17,530-$43,038

$17,530-$46,227

Phase out Married Persons filing Jointly

$13,310-$19,680

$22,870-$43,210

$22,870-$48,378

$22,870-$51,567

 USA Adoption Credit 2013

The maximum credit allowable is $12,970. Phase outs apply for taxpayers with modified adjusted gross income (MAGI) over $194,580 and the credit is completely phased out for taxpayers with MAGI of more than $234,580. By way of explanation, your MAGI is generally your adjusted gross income (AGI), found at line 37 of your federal form 1040, with certain tax preference items like deductions for student loan interest and IRA contributions added back in.

USA Child Credit 2013

The used to determine the amount of refundable credit is $3,000.

American Opportunity Credit 2013

American Opportunity Tax Credit will be limited to $2,500. Phaseouts apply for the credit beginning with MAGI over $80,000 ($160,000 for married taxpayers filing jointly).

Note: Taxes mentioned above are indicative only. Please check from the particular department for accurate tax rate

 
 

 

 

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