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IRS 2006 Tax Rates for Married Couples Filing Jointly
(Schedule Y-1)

These tax tables are designed for married individuals filing their 2006 income tax return, and represent significant changes from Tax Year 2005.

These tables are effective January 1, 2006, and may also be used for qualifying widows and widowers. These rates do not take into account any credits, such as the standard deduction, mortgage deductions, etc.

 
 


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
$15,100
$0
10%
$0
$15,100
$61,300
$1,510.00
15%
$15,100
$61,300
$123,700
$8,440.00
25%
$61,300
$123,700
$188,450
$24,040.00
28%
$123,700
$188,450
$336,550
$42,170.00
33%
$188,450
$336,550
- - - - -
$91,043.00
35%
$336,550

 

 

Example #1

Louis and Lilly Leopold, two married taxpayers, have 2006 TAXABLE INCOME of $130,000. The Leopolds' income would fall between:

Between

But Not Over

Base Tax

+ Rate

Of the Amount Over

$123,700
$188,450
$24,040.00
28%
$123,700


 

 
 

Louis and Lilly Leopold's Estimated Taxes

  = Base Tax + (Rate x Amount Over)
  = $24,040.00 + [.28 x ($130,000 - $123,700)]
  = $24,040.00 + (.28 x $6,300)
  = $24,040.00 + $1,764.00
  = $25,804.00

Assuming Louis and Lilly made the same amount last year, their 2006 tax bill dropped over $300, using the 2005 income tax rate table for joint married taxpayers.
 


 

 

Example #2

Isabel Richards is a widow whose husband died in 2006. She has combined 2006 TAXABLE INCOME of $210,000. Her income falls between:

Between

But Not Over

Base Tax

+ Rate

Of the Amount Over

$188,450
$336,550
$42,170.00
33%
$188,450

 

 
 

 

Isabel Richards' Estimated Taxes

  = Base Tax + (Rate x Amount Over)
  = $42,170.00 + [.33 x ($210,000 - $188,450)]
  = $42,170.00 + (.33 x $21,550)
  = $42,170.00 + $7,111.50
  = $49,281.50

Isabel also experienced tax savings from the previous year, assuming she and her husband earned the same amount last year. Her total tax dropped $610.00 over last year, using the 2005 income tax rate table for joint married taxpayers and qualifying widow(ers).

 

These sample equations do not reflect standard deductions, mortgage deductions, or any other credits that may decrease your estimated taxable income. Use only for 2006 income taxes. The names mentioned in these samples are fictitious and not based on any individual. For illustrative and planning purposes only. For more information, or to review the official tax tables, please download Instructions for Form 1040.

 
 

 

 
 
 
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