Tax data easily accessible online
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To the editor:
In response to a letter last week by Mr. Ken Rentz who wrote, "The super-rich have had lower taxes for 10 years now...", I ask that you please
print some information from the irs.gov website.
These tax tables can be found at http://www.irs.gov/pub/irs-drop/rp-09-50.pdf.
For taxable years beginning in 2010:
Married Individuals Filing Joint Returns and Surviving Spouses, If Taxable Income Is: - The Tax Is:
Not over $16,750 - 10% of the taxable income;
Over $16,750 but not over $68,000 - $1,675 plus 15% of the excess over $16,750;
Over $68,000 but not over $137,300 - $9,362.50 plus 25% of the excess over $68,000;
Over $137,300 but not over $209,250 - $26,687.50 plus 28% of the excess over $137,300;
Over $209,250 but not over $373,650 - $46,833.50 plus 33% of the excess over $209,250;
Over $373,650 - $101,085.50 plus 35% of the excess over $373,650.
Tax rates for heads of households, unmarried individuals, married individuals filing separate returns, and estates and trusts can be found at
the website listed above. I would also like to note that the 2001 tax relief act created the 10% tax bracket. Prior to that time, these folks would have been paying 15%.
Sincerely,
Jason Gibson
Lynchburg
To the editor:
In response to a letter last week by Mr. Ken Rentz who wrote, "The super-rich have had lower taxes for 10 years now...", I ask that you please print some information from the irs.gov website.
These tax tables can be found at http://www.irs.gov/pub/irs-drop/rp-09-50.pdf.
For taxable years beginning in 2010:
Married Individuals Filing Joint Returns and Surviving Spouses, If Taxable Income Is: - The Tax Is:
Not over $16,750 - 10% of the taxable income;
Over $16,750 but not over $68,000 - $1,675 plus 15% of the excess over $16,750;
Over $68,000 but not over $137,300 - $9,362.50 plus 25% of the excess over $68,000;
Over $137,300 but not over $209,250 - $26,687.50 plus 28% of the excess over $137,300;
Over $209,250 but not over $373,650 - $46,833.50 plus 33% of the excess over $209,250;
Over $373,650 - $101,085.50 plus 35% of the excess over $373,650.
Tax rates for heads of households, unmarried individuals, married individuals filing separate returns, and estates and trusts can be found at the website listed above. I would also like to note that the 2001 tax relief act created the 10% tax bracket. Prior to that time, these folks would have been paying 15%.
Sincerely,
Jason Gibson
Lynchburg
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