Tax rates and key changes for 2012

Tax rates and key changes for 2012

Though there were no major changes in broad tax rates for 2012, there are some tax- and retirement-related changes from 2011 levels taxpayers should be aware of:

Tax Rates Infographic

Of these key changes, the reductions in the AMT exemption amount will have the most impact for taxpayers by far. Unless legislative action is taken, an estimated 25 to 30 milllion additional taxpayers will pay AMT in 2012. As in past years, it is likely that tax changes will be implemented to avoid this drastic expansion of the AMT. For further reference, you can access our 2011 and 2012 tax rates, schedules, and contribution limits charts.

Source: Internal  Revenue Service

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