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1 Kyle Pomerleau, 2015 Tax Brackets 1 (2014)

handle is hein.taxfoundation/tfiftb0001 and id is 1 raw text is: Tm         @2015 Tax Brackets
FISCAL                    By Kyle Pomereau
Oct. 2014
No. 440                   Introduction
Every year, the IRS adjusts more than 40 tax provisions for inflation. This is done
to prevent what is called bracket creep. This is the phenomenon by which people
are pushed into higher income tax brackets or have reduced value from credits or
deductions due to inflation instead of an actual increase in real income.
The IRS uses the Consumer Price Index (CPI) to calculate the past year's inflation and
adjusts income thresholds, deduction amounts, and credit values accordingly. Rather
than directly adjusting last year's values for annual inflation, each provision is adjusted
from a specified base year. For more information, see the methodology, below.
Estimated Income Tax Brackets and Rates
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 adjusted gross income of $413,200 and higher for single filers and
$464,850 and higher for married filers.
Table 1. 2015 Taxable Income Brackets and Rates (Estimate)
Rate   Single Filers        Married Joint Filers  Head of Household Filers
15%   $9,225 to $37450     $18,450 to $74,900   $13,150 to $50,200
Source: Author's calculations.

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