Tax bracket limits have shifted higher for 2012 and A COLA of just over 3.8% for 2012 leaves federal tax brackets looking like the ones found in this post.
Personal & dependent exemptions are each worth $100 more. In 2012, the value of each personal and dependent exemption has increased $100 to $3,800.
Standard deductions are up across the board, increasing from $150 -$300.
- Married filing jointly & qualifying widower $11,900 (up $300 from 2011)
- Single filers & married filing separately $ 5,950