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IRS 2007 Tax Rates for Single Individual
(Schedule X)

These tax tables are designed for single individuals filing their 2007 income tax return, and represent significant changes from Tax Year 2006.

These tables are effective as of January 1, 2007, and do not take into account any types of tax credits or deducations, 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
$7,825
$0
10%
$0
$7,825
$31,850
$782.50
15%
$7,825
$31,850
$77,100
$4,386.25
25%
$31,850
$77,100
$160,850
$15,698.75
28%
$77,100
$160,850
$349,700
$39,148.75
33%
$160,850
$349,700
- - - - -
$101,469.25
35%
$349,700

 

 

Example #1

Marlon Anderson, a single taxpayer, has 2007 TAXABLE INCOME of $110,000. Anderson's income falls between:

Between

But Not Over

Base Tax

+ Rate

Of the Amount Over

$77,100
$160,850
$15,698.75
28%
$77,100

 

 

 

 

Marlon Anderson's Estimated Taxes

  = Base Tax + (Rate x Amount Over)
  = $15,698.75 + [.28 x ($110,000 - $77,100)]
  = $15,698.75 + (.28 x $32,900)
  = $15,698.75 + $9,212.00
  = $24,910.75

Assuming he made the same amount last year, Marlon's 2007 total tax dropped $220.75 from last year, using the 2006 income tax rate table for single taxpayers.

 


 

 

Example #2

Meredith Mason, a single taxpayer, has 2007 TAXABLE INCOME of $67,000. Ms. Mason's income falls between:

Between

But Not Over

Base Tax

+ Rate

Of the Amount Over

$31,850
$77,100
$4,386.25
25%
$31,850

 

 

 

 

Meredith Mason's Estimated Taxes

  = Base Tax + (Rate x Amount Over)
  = $4,386.25 + [.25 x ($67,000 - $31,850)]
  = $4,386.25 + (.25 x $35,150)
  = $4,386.25 + $8,787.50
  = $13,173.75

Meredith also came out better in 2007 than the previous year, assuming that she earned the same income. Her total tax dropped almost $134.00 from her 2006 tax return, using the 2006 income tax rate table for single taxpayers.

 

These sample equations do not reflect standard deductions, mortgage deductions, or any other credits that may decrease your estimated taxable income. Use only for 2007 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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