Change in Individual Tax Rates Under Tax Reform Plan
The change to individual tax rates caused by Trump's tax reform act are as follows:
Change in tax brackets for single taxpayers
Current Tax Brackets Tax Reform Tax Brackets
10% $0 - $9,325 10% $0 - 9,525
15% $9,326 - $37,650 12% $9,526 - 38,700
25% $37,651 - $91,900 22% $38,701 - $82,500
28% $91,901 - $191,650 24% $82,501 - $157,500
33% $190,651 - $416,700 32% $157,501 - $200,000
35% $416,700 - $418,400 35% $200,001 - $500,000
39.6% $418,401 and up 37% $500,001 and up
Change in tax brackets for married filing jointly taxpayers
Current Tax Brackets Tax Reform Tax Brackets
10% $0 - $18,650 10% $0 - 19,050
15% $18,651 - $75,900 12% $19,051 - 77,400
25% $75,901 - $153,100 22% $77,401 - $165,000
28% $151,101 - $233,350 24% $165,001 - $315,000
33% $233,351 - $416,700 32% $315,001 - $400,000
35% $416,701 - $470,700 35% $400,001 - $600,000
39.6% $470,001 and up 37% $600,001 and up
Change in tax brackets for head of household taxpayers
Current Tax Brackets Tax Reform Tax Brackets
10% $0 - $13,350 10% $0 - $13,600
15% $13,351 - $50,800 12% $13,601 - $51,800
25% $50,801 - $131,200 22% $51,801 - $82,500
28% $131,201 - $212,500 24% $82,501 - $157,500
33% $212,501 - $416,700 32% $157,501 - $200,000
35% $416,701 - $444,500 35% $200,001 - $500,000
39.6% $444,501 and up 37% $500,001 and up
Most taxpayers should pay lower taxes under the Tax Reform Rules.
Bowman Law Firm, Tax Attorney & CPA Huntsville, Alabama
