Income Tax Rate in USA for 2014.  Federal Income tax Rates, Standard Deduction and Allowances for 2014 United States of America

 

 

USA Income Tax Rates 2014 and Standard Deduction as per IRS Announcement

Income Tax Rate for Individual Tax Payers

 

 

 

Taxable Income

Tax Rate %

$0-$9,075

10%

$9,075-$36,900

$907.50+15% on amount excess over $8,925

$36,900-$89,350

$5,081.25+25% on amount excess over $36,900

$89,350-$186,350

$18,193.75+28% on amount excess over $89,350

$186,350-$405,100

$45,353.75+33% on amount excess over $186,350

$405,100-$406,750

$117,541.25+35% on amount excess over $405,100

$405,100 and above

$118,118.75+39.60% on amount excess over $4,06,750

 USA Income Tax Rate 2014 for Household Head

Taxable Income

Tax Rate %

$0-$12,950

10%

$12,950-$49,400

$1295+15% on amount excess over $12,950

$49,400-$127,550

$6,762.50+25% on amount excess over $49,400

$127,550-$206,600

$26,300+28% on amount excess over $127,550

$206,600-$405,100

$48,434+33% on amount excess over $206,600

$405,100-$432,200

$113,939+35% on amount excess over $405,100

$432,200 and above

$123,424+39.60% on amount excess over $4,32,200

USA Income Tax Rate 2014 for Married Tax Payers filing Returns Separately

Taxable Income

Tax Rate %

$0-$9,075

10%

$9,075-$36,900

$907.50+15% on amount excess over $9,075

$36,900-$74,425

$5,081.25+25% on amount excess over $36,900

$74,425-$113,425

$14,462.50+28% on amount excess over $74,425

$113,425-$202,550

$25,382.50+33% on amount excess over $113,425

$202,550-$228,800

$54,793.75+35% on amount excess over $202,550

$2,28,800 and above

$63,981.25+39.60% on amount excess over $2,28,800

 

 

 

USA Income tax Rates 2014 for Joint filing by married tax payers

Taxable Income

Tax Rate %

$0-$18,150

10%

$18,150-$73,800

$1,815+15% on amount excess over $18,150

$73,800-$1,48,850

$10,162.5+25% on amount excess over $73,800

$1,48,850-$226,850

$28,925+28% on amount excess over $148,850

$2263,850-$405,100

$50,765+33% on amount excess over $226,850

$405,100-$457,600

$108,587.50+35% on amount excess over $405,100

$457,600 and above

$127,926.50+39.6% on amount excess over $4,57,600

Standard Deduction Rates for 2014 in USA

Married Tax Payers Filing Jointly                              - $12,400

Head of Household                                                  -$9,100

Individual Tax Payers                                               -$6,200

Married Tax Payers filing separate                              -$6,200

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

Tax payer is single and not surviving a wife                 -$1,550

 

USA Itemized Income Tax Deduction Amount for 2014

Married Tax Payers filing Jointly                             -$305,050

Household Head                                                    -$254,200

 

USA Alternative Minimum Tax Amount for 2014

Married Tax Payers filing jointly                               -$82,100

Household Head                                                      -$52,800

 

USA Personal Exemption Amount for 2014

The personal exemption amount is $3,950. 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 2014

Maximum EITC amount available is $3,304 for taxpayers filing jointly with one child; $5,460 for two children; $6,143 for three or more children and $496 for no children.

 USA Adoption Credit 2014

The maximum credit allowable is $13,190. Phase outs apply for taxpayers with modified adjusted gross income (MAGI) over $197,880.

USA Child Credit 2014

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

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

 

 

 

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