Q:

Where can tax payers find information on tax brackets for 2014?

A:

Quick Answer

Tax bracket information, as published by the IRS, can be found on the Forbes website. This information is used to cover those taxes owed for the 2014 tax year that must be filed during 2015.

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Full Answer

The 2014 tax brackets covered in Forbes includes those for single filers, heads of household, married couples filing jointly and married couples filing separately, and surviving spouses. All tax bracket information includes the income adjustments announced for the tax year.

Along with the tax bracket information, Forbes also lists the standard deductions for the year. The standard deductions are shown with those from 2013 for comparison. The higher personal exemption amount is shown as well as the limitations on itemized deductions that resulted from the new Pease legislation, which increases the top marginal tax rates. The Alternative Minimal Tax Exemptions for single and married filers is also covered.

Several tax credits for the year are listed. These credits include the earned income tax credit, the child tax credit, the Hope Scholarship credit and the adoption credit. The higher exemption rate for the federal estate tax exemption is also listed, as well as the limits on both IRA contributions and the amount that an employee can contribute to a flexible spending account for healthcare.

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