2014 Tax Rates & 2014 Tax Brackets

Posted by Madison on August 22, 2011

What do the 2014 tax rates and 2014 tax brackets look like?

2014 tax rates are used to file your 2014 tax return due in 2015.

Last year the fiscal cliff deal made the tax bracket structure permanent. The 2014 income tax brackets will continue to keep the 10%, 15%, 25%, 28%, 33%, 35% and 39.6% tax brackets in place from last year.

2014 Tax Rates & Tax Brackets

The IRS recently released the final 2014 tax brackets. Here are the federal 2014 tax tables:

 
Tax Rate Single Married Filing Joint Married Filing Separate Head of Household
10% Up to $9,075 Up to $18,150 Up to $9,075 Up to $12,950
15% $9,076 – $36,900 $18,151 – $73,800 $9,076 – $36,900 $12,951 – $49,400
25% $36,901 – $89,350 $73,801 – $148,850 $36,901 – $74,425 $49,401 – $127,550
28% $89,351 – $186,350 $148,851 – $226,850 $74,426 – $113,425 $127,551 – $206,600
33% $186,351 – $405,100 $226,851 – $405,100 $113,426 – $202,550 $206,601 – $405,100
35% $405,101 – $406,750 $405,101 – $457,600 $202,551 – $228,800 $405,101 – $432,200
39.6% Over $406,750 Over $457,600 Over $228,800 Over $432,200

The 2014 federal tax tables are based on your filing status for the 2014 calendar year.

2014 Tax Rates vs 2015 Tax Rates

Want to compare the proposed 2014 tax brackets to the current year to see the changes?

The 39.6% tax bracket will continue for next year. The original proposal to raise the 33% tax bracket to 36% for taxpayers with AGI over $200,000 for single and $250,000 for married couples was not included in the bill.

Here are the 2015 tax rates for comparison.

More on Tax Brackets

The tax bracket you fall in is a marginal tax rate and it doesn’t apply to all of your income. For more information, see How Do Tax Brackets Work?

In addition to the tax brackets and 2014 federal tax tables above, you may owe tax under the alternative minimum tax. You can review the AMT exemption to see if it will apply to you.

To compare 2014 tax brackets to next year, see What Might the 2015 Tax Rates Look Like?.

2014 was the first year for penalties for no health insurance for the new health insurance premium tax credit.

Tax Calculator

To figure out what your taxes currently look like, you can use the Tax Calculator.



Get your biggest tax refund, guaranteed. Plus FREE Expert Tax Advice. File your Federal tax return for FREE today with TurboTax!




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