2005 inflation adjustments.

2005 Inflation Adjustments

2005 income tax rates:

Rate (%)  MFJ                Single             HOH

10        0-$14,600          0-$7,300           0-$10,450
15        $14,600-$59,400    $7,300-$29,700     $10,450-539,800
25        $59,400-$119,950   $29,700-$71,950    $39,800-$102,800
28        $119,950-$182,800  $71,950-$150,150   $102,800-5166,450
33        $182,800-$326,450  $150,150-$326,450  $166,450-$326,450
35        Over $326,450      Over $326,450      Over $326,450

Rate (%)  MFS                Estates/Trusts

10        0-$7,300           N/A
15        $7,300-$29,700     0-$2,000
25        $29,700-$59,975    $2,000-$4,700
28        $59,975-$91,400    $4,700-$7,150
33        $91,400-$163,225   $7,150-$9,750
35        Over $163,225      Over $9,750

2005 standard deduction:

Filing status                                    Amount

Single                                           $5,000
MFJ or qualifying spouse with dependent child   $10,000
MFS                                              $5,000
HOH                                              $7,300

2005 personal exemption is $3,200, phaseouts:

                                                           No exemption
                                               Phaseout      if AGI
Filing status                                  threshold     exceeds

Single                                         $145,950     $268,450
MFJ or qualifying spouse with dependent child  $218,950     $341,450
MFS                                            $109,475     $170,725
HOH                                            $182,450     $304,950

Source: Rev. Proc. 2004-71

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Title Annotation:	News Notes
Author:	Laffie, Lesli S.
Publication:	The Tax Adviser
Date:	Feb 1, 2005
Words:	203
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