The 2012 Internal Revenue Service tax tables provide information about tax rates on taxable income earned in 2012, reports efile.com. The tax rates are different for each of four separate taxpayer filing categories, which include single, married/ joint, married/separate, and head of household.
In 2012, the lowest tax rate of 10 percent was paid by single and married/separate filers who earned up to $8,700, married/joint filers who made up to $17,400, and head of household filers who made up to $12,400, according to efile.com. The highest tax rate of 35 percent was paid on taxable income made over $388,350 by single, married/joint and head of household filers, and on taxable income made over $194,175 by married/separate filers. Tax rates on income amounts between these thresholds varied for 2012, from 15 percent to 33 percent.
Because of the progressive nature of the tax rates, the marginal tax rate of the tax bracket in which a filer fits is not the effective tax rate paid on the entire income, says efile.com. For example, a filer who claims $40,000 of taxable income falls in the 25 percent tax bracket, but only the income between $35,551 and $40,000 is taxed at 25 percent. The taxable income up to $8,700 is taxed at 10 percent and the rest of it at 15 percent.