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It was $3,700 for 2011. It is $3,800 for 2012. Standard deduction increased. The stand ard deduction for some taxpayers who do not itemize their deductions on Schedule A of Form 1040 is higher for 2012 than it was for 2011.
(1) Exemption amount. For taxable years beginning in 2011, the personal exemption amount under 151(d) is $3,700.
Help Filing Your Past Due Return If you need information from a prior year tax return, use Get Transcript to request a return or account transcript. Get our online tax forms and instructions to file your past due return, or order them by calling 800-TAX-FORM (800-829-3676) or 800-829-4059 for TTY/TDD.
Single filersMarried filing jointly or qualifying widow/widower 15% $8,501 $34,500 $12,151 $46,250 25% $34,501 $83,600 $46,251 $119,400 28% $83,601 $174,400 $119,401 $193,350 33% $174,401 $379,150 $193,351 $379,1502 more rows Jan 9, 2012
Federal income tax brackets As it stands now, there will be no 10% bracket for 2011, and the remaining bracket rates will return to their original 2001 levels: 15%, 28%, 31%, 36%, and 39.6%.
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For 2012, the standard deductions are $11,900 for married couples filing jointly, $5,950 for married couples filing separately and singles, and $8,700 for heads of household.
* The IRS does not allow electronic filing of prior year tax returns, and the deadline for 2011 electronic filing has passed on October 15, 2012. You may still prepare your 2011 taxes using our website.