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IRS 2005 Tax Rates for Single Individual

These tax tables are designed for single individuals filing their 2005 income tax return, and represent significant changes from Tax Year 2004.

These tables are effective as of January 1, 2005, and do not take into account any credits, such as the standard deduction, mortgage deductions, etc.

(Includes examples at bottom.)

 

 

 

 

Single

Joint Married

Married Filing Separate

Head of Household

Trusts

 

 
If Taxpayer's Income Is... Then Estimated Taxes Are...

Between

But Not Over

Base Tax

+ Rate

Of the Amount Over

$0
$7,300
$0
10%
$0
$7,300
$29,700
$730.00
15%
$7,300
$29,700
$71,950
$4,090.00
25%
$29,700
$71,950
$150,150
$14,652.50
28%
$71,950
$150,150
$326,450
$36,548.50
33%
$150,150
$326,450
- - - - -
$94,727.50
35%
$326,450

 

 

Example #1

Kevin Lewis , a single taxpayer, has 2005 TAXABLE INCOME of $110,000. Lewis' income falls between:

Between

But Not Over

Base Tax

+ Rate

Of the Amount Over

$71,950
$150,150
$14,652.50
28%
$71,950

 

Kevin Lewis' Estimated Taxes

  = Base Tax + (Rate x Amount Over)
  = $14,652.50 + [.28 x ($110,000 - $71,950)]
  = $14,652.50 + (.28 x $38,050) 
  = $14,652.50 + $10,654.00
  = $25,306.50

Kevin's total tax dropped almost $120.00 from his 2004 tax return, using the 2004 income tax rate table for single taxpayers.

 

Example #2

Jill Mafferty, a single taxpayer, has 2005 TAXABLE INCOME of $52,000. Mafferty's income falls between:

Between

But Not Over

Base Tax

+ Rate

Of the Amount Over

$29,700
$71,950
$4,090.00
25%
$29,700

 

Jill Mafferty 's Estimated Taxes

  = Base Tax + (Rate x Amount Over)
  = $4,090.00 + [.25 x ($52,000 - $29,700)]
  = $4,090.00 + (.25 x $22,300)
  = $4,090.00 + $5,575.00 
  = $9,665.00

Jill also came out better in 2005 than the previous year. Her total tax dropped roughly $60.00 from her 2004 tax return, using the 2004 income tax rate table for single taxpayers.

This equation does not reflect standard deductions, mortgage deductions, or any other credits that may decrease your estimated taxable income. Use only for 2005 income taxes. The names mentioned in these samples are fictitious and not based on any individual. Actual tax tables may apply if your income is less than $100,000. For illustrative and planning purposes only.

 

 
 
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