2018 Tax Rates, Standard Deductions, Exemption Amounts and More... 

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These are the numbers for the tax year 2018 beginning January 1, 2018.

The Internal Revenue Service (IRS) has (finally) announced a number of tax-related provisions for 2018, including, of course, the latest tax tables.  The Internal Revenue Bulletin (IRB): 2018-10 dated March 5, 2018, confirms the new numbers. Changes of note include those to the EITC, adoption credit, and more.

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Tax Brackets and Tax Rates. The big news is, of course, the tax brackets and tax rates for 2018. There are still seven (7) tax rates.
They are: 10%, 12%, 22%, 24%, 32%, 35% and 37% (there is also a zero rate). Here's how those break out by filing status:







































































​Tax rates for trusts and  estates have changed, too:















  Standard Deduction Amounts. 
The standard deduction amounts will increase to $12,000 for individuals, $18,000 for heads of household,
and $24,000 for married couples filing jointly and surviving spouses.












               For 2018, the additional standard deduction amount for the aged or the blind is $1,300.
               The additional standard deduction amount increases to $1,600 for unmarried taxpayers.

                For 2018, the standard deduction amount for an individual who may be claimed as a dependent by another taxpayer cannot exceed
                the greater of $1,050 or the sum of $350 and the individual’s earned income.

                                                                                           
There will be no personal exemption amounts for 2018.









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