Q:

What information can be found on the federal tax tables for 2014?

A:

The 2014 income tax tables published by the Internal Revenue Service show tax liability by taxable income and filing status, according to IRS Publication 17. For taxable incomes in excess of \$100,000, the IRS includes information on computing tax but does not provide the amount of tax in a table.

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Income tax tables provide the tax liability by income for each of the four filing statuses: single, head of household, married filing jointly and married filing separately, according to IRS Publication 17. The amount of tax is displayed for each \$50 bracket of taxable income beginning at \$3,000 and for smaller thresholds from zero to \$3,000. The minimum tax amount is one dollar for taxable incomes between \$5 and \$15. The maximum tax displayed on the tables is \$21,617 for married people filing separate returns with incomes between \$99,950 and \$100,000.

The tax rates that apply to incomes over \$100,000 vary by filing status, as do the brackets delineating new tax rates, states IRS Publication 17. For example, single filers with incomes from \$100,000 to \$186,350 pay 28 percent, while married people filing joint returns pay at a rate of 25 percent on income from \$100,000 to \$148,850. For all filing statuses, the maximum marginal tax rate is 39.6 percent.

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