The tables below show the tax rates in taxable income for 2009 by each income tax bracket (I found this information on WalletPop.com):
Table A: Single tax return:
If taxable | Amount of tax | ||
More than: | However, not over: | This amount | Amount over: |
$0 | $8,350 | 10% | -- |
$8,350 | $33,950 | $835 + 15% | $8,350 |
$33,950 | $82,250 | $4,675 + 25% | $33,950 |
$82,250 | $171,550 | $16,750 + 28% | $82,250 |
$171,550 | $372,950 | $41,754 + 33% | $171,550 |
$372,950 | -- | $108,216 + 35% | $372,950 |
Table B: Married Filing Jointly (MFJ) or Qualifying Widow(er):
If taxable | Amount of tax | ||
More than: | However, not over: | This amount | Amount over: |
$0 | $16,700 | 10% | -- |
$16,700 | $67,900 | $1,670 + 15% | $16,700 |
$67,900 | $137,050 | $9,350 + 25% | $67,900 |
$137,050 | $208,850 | $26,638 + 28% | $137,050 |
$208,850 | $372,950 | $46,742 + 33% | $208,850 |
$372,950 | -- | $100,895 + 35% | $372,950 |
Table C: Head of Household tax return:
If taxable | Amount of tax | ||
More than: | However, not over: | This amount | Amount over: |
$0 | $11,950 | 10% | -- |
$11,950 | $45,500 | $1,195 + 15% | $11,950 |
$45,500 | $117,450 | $6,228 + 25% | $45,500 |
$117,450 | $190,200 | $24,215 + 28% | $117,450 |
$190,200 | $372,950 | $44,585 + 33% | $190,200 |
$372,950 | -- | $104,893 + 35% | $372,950 |
Table D: Married Filing Separate (MFS) return:
If taxable | Amount of tax | ||
More than: | However, not over: | This amount | Amount over: |
$0 | $8,350 | 10% | -- |
$8,350 | $33,950 | $835 + 15% | $8,350 |
$33,950 | $68,525 | $4,675 + 25% | $33,950 |
$68,525 | $104,425 | $13,319 + 28% | $68,525 |
$104,425 | $186,475 | $23,371 + 33% | $104,425 |
$186,475 | -- | $50,447 + 35% | $186,475 |
For example, say you file a single return and have taxable income of $40,000 in 2009. Using Table A, above, your tax liability would be $4,675 plus 25% of income above $33,950, or $6,050 in your case. That works out to be $1,513 for a total federal income tax liability of $6,188.
To prevent you from being bumped into the next-higher bracket as a result of a cost-of-living wage increase, the IRS adjusts upward the amount of income that can be earned for each tax bracket every year. This phenomenon of being bumped into the next-higher tax bracket is sometimes called "bracket creep."
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