Federal individual income tax rates for 2006

For convenient reference, here is the current table of federal income tax rates for single individuals.

Schedule X — Single

If taxable income is  over--	But not over--	The tax is:
$0	$7,550	10% of the amount over $0
$7,550	$30,650	$755 plus 15% of the amount over 7,550
$30,650	$74,200	$4,220.00 plus 25% of the amount over 30,650
$74,200	$154,800	$15,107.50 plus 28% of the amount over 74,200
$154,800	$336,550	$37,675.50 plus 33% of the amount over 154,800
$336,550	no limit	$97,653.00 plus 35% of the amount over 336,550

Tax rates for this and other filing categories can be found in the official 2006 Federal Tax Rate Schedules on the IRS web site.

The big footnote on these tables is what deductions and other "adjustments" you need to make to your base pay or gross income to get your official "taxable income".

-- Jack Krupansky