Call (888) 995-6785

Live Help Available Monday thru Friday 8:30AM - 4:30PM EST or Schedule a FREE Consultation Here »

IRS 2012 Inflation Adjusted Tax Tables With Updated Tax Exemptions The IRS released various inflation-adjusted 2012 tax tables outlining tax exemptions, income tax thresholds, and retirement plan contributions (IR-2011-103; IR-2011-104; Rev. Proc. 2011-52, 2011-45 IRS).

  • Estate Tax Exemption: $5,120,000 (up $120,000 from 2011)
  • Standard Deduction: $5,950 single/$11,900 joint (up $150/$300 from 2011)
  • Income Limit for Full Roth IRA Contributions: $110,000 single/$173,000 joint (up $3,000/$4,000 from 2011)
  • Personal Exemption: $3,800 (up $100 from 2011)
  • Gift Tax Exemption: $13,000 (same as 2011)
  • 401(k)/403(b)/457 Contribution Limit: $17,000 (up $500 from 2011)
  • Limitation on Annual Benefit under Defined Benefit Plan: $200,000 (up $5,000 from 2011)

Until next time,

Jeff Fouts, Tax Attorney

Here’s a bio of sorts. I’m happily married with two kids. I’m a real small town tax lawyer, (Ellijay, pop. 1,584) not some fictional marketing character. I’ve represented tax clients against the IRS in all 50 states, and in 21 foreign countries. I have 18 years experience, thousands of satisfied clients, about 8 critics at last count, and an A+ BBB Rating.

I’m a member in good standing of the bar and have active memberships in courts from Georgia to Washington D.C., including the U.S. Supreme Court. My competitors covet my website ranking but my clients covet my sound legal counsel. I deal directly with my clients and have a small, tireless staff of tax specialists.

You can put off your tax problem, or put us to work for you on your tax case.

Share →
Buffer

6 Responses to IRS 2012 Inflation Adjusted Tax Tables With Updated Tax Exemptions

  1. marbury lamar says:

    Thank you for sharing the next years income tax tables. The analysis o tax bankruptcy will help as I have also filed bankruptcy personally.

  2. Loren says:

    It is appropriate time to make some tax plans for the longer term and it is time to be happy. We are changing our tax planning as a result of this article.

  3. Judy & Ed Woodard, Ohio says:

    We are retirees who will receive a one-time-only large amount of money either late this year or we can delay it until after January 2012. We need to know where to get advice on taxes & investment from someone in the tax business before we get any money so we don’t make disastrous decisions early on. We have so far only been given predictions of paying 42% to the IRS.

  4. Obamahu says:

    While posting on a tax site yesterday I found this article to help reinforce my beliefs that the IRS is a sham.

  5. Milford Garoutte says:

    I really did enjoy your review of the IRS tax tables and plan on coming back to settle tax debt.

  6. Alisa James says:

    IRS 2012 Inflation Adjusted Tax Tables With Updated Tax Exemptions will affect our farm business and we cannot keep up with the increased expenses.

Call (888) 995-6785

Live Help Available Monday thru Friday 8:30AM - 4:30PM EST or Schedule a FREE Consultation Here »

Monthly Tax Help Newsletter

Our best Tax Help Delivered Once a Month. Unsubscribe Anytime - No Spam EVER