What was the top income tax rate for 2015?

What was the top income tax rate for 2015?

In 2015, the income limits for all brackets and all filers will be adjusted for inflation and will be as seen in Table 1. The top marginal income tax rate of 39.6 percent will hit taxpayers with taxable income of $413,200 and higher for single filers

What was the income tax credit for 2015?

2015’s maximum Earned Income Tax Credit for singles, heads of households, and joint filers is $503 if the filer has no children (Table 6). For one child the credit is $3,359, two children is $5,548, and three or more children is $6,242. Table 6. 2015 Earned Income Tax Credit Parameters. Filing Status.

Do you get a tax refund for 2015?

The IRS is no longer processing refunds for 2015. You must have filed your return within 3 years of the return due date to claim a refund. Free account roll-over and back-ups of completed tax returns are included.

What was the tax exemption amount for 2015?

For 2015, the lifetime exemption amount is $5.43 million. The way the exemption is treated, though, is different from a standard deduction. Instead, the way the tax laws implement the exemption is to have you include all your taxable estate assets, but then give you a credit that effectively zeros out the tax impact of the first $5.43 million.

What was the maximum AMT exemption for 2015?

The AMT exemption amount for 2015 is $53,600 for singles and $83,400 for married couple filing jointly (Table 5). Source: Author’s calculations. 2015’s maximum Earned Income Tax Credit for singles, heads of households, and joint filers is $503 if the filer has no children (Table 6).

What was the standard deduction for 2015 income tax?

Table 2. 2015 Standard Deduction and Personal Exemption Filing Status Deduction Amount Single $ 6,300.00 Married Filing Jointly $ 12,600.00 Head of Household $ 9,250.00