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2009 Federal Income Tax Brackets (Official IRS Tax Rates)

Posted By Jim On 09/17/2008 @ 2:13 pm In Taxes | 56 Comments

9/16/09: The inflation data for 2009 have been released, so you can find the 2010 income tax brackets [3].

2/26/09: These IRS tax brackets are official.

The Labor Department released inflation data yesterday [4] and the Wall Street Journal had three tax experts estimate how all the inflation-pegged tax figures would change based on those numbers. Many tax numbers, like the brackets, exemptions, standard deductions, etc., are pegged to inflation so knowing the Labor Department figures can give you huge insight into how those numbers will move. The three experts are George Jones, senior federal tax analyst at CCH; William Massey, senior tax analyst for the tax & accounting business of Thomson Reuters; and Prof. James C. Young, professor of accountancy at Northern Illinois University. The Wall Street Journal does this every year and, for as long as I can remember, they’re often it pretty spot on. Based on their calculations, a bunch of inflation-pegged tax numbers are going up.


All these figures are merely estimates, the government can always go back and adjust inflation figures so these numbers may change.

2009 Federal Income Tax Brackets

Here’s what they projected for the income tax brackets for 2009, compared to 2008 figures:

Some other changes:

  • Standard deduction increases: The standard deduction for married filling jointly is expected to increase to $11,400 from $10,900, a $500 increase. Singles and those married filling separately will get a standard deduction of $5,700, a $250 increase from $5,450 in 2008.
  • Personal exemption increases: The personal exemption amount will increase $150 to $3,650.
  • $13,000 gift tax exclusion: Professor Young believes that that gift tax exclusion amount will increase from $12,000 to $13,000. Right now, if you give more than $12,000 a year to someone as a gift, you have to pay a gift tax on it (yes, the giver of the gift pays the tax). Professor Young believes that number will increase to $13,000.

More insight and explanation can be found at the Wall Street Journal [5] and here were their predictions on last year’s IRS tax brackets [6].


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[3] 2010 income tax brackets: http://www.bargaineering.com/articles/federal-income-irs-tax-brackets.html

[4] released inflation data yesterday: http://www.bls.gov/CPI/

[5] Wall Street Journal: http://online.wsj.com/article/SB122161922104346467.html?mod=todays_us_personal_journal

[6] last year’s IRS tax brackets: http://www.bargaineering.com/articles/2008-federal-income-tax-brackets-official-irs-figures.html

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