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Projected 2007 Tax Numbers Based on Inflation

Kiplinger’s took a look at the consumer price index released on September 15th for August and crunched some numbers to predict/project how the IRS would adjust the tax brackets and other tax breaks to prevent inflation from invisibly moving folks from bracket to bracket. Remember, these numbers are just projections,

Projected 2007 Tax Tables:
Up to $7,825 taxed at 10%
$7,826 – $31,850 taxed at 15%
$31,851 to $77,100 taxed at 25%
$77,101 to $160,850 taxed at 28%
$160,851 to $349,750 taxed at 33%
Over $349,750 taxed at 35%

Current 2006 Tax Tables:
Up to $7,550 taxed at 10%
$7,550 – $30,650 taxed at 15%
$30,650 – $74,200 taxed at 25%
$74,200 – $154,800 taxed at 28%
$154,800 – $336,550 taxed at 33%
Over $336,550 taxed at 35%

There are a few other extraneous tax rule predictions too available from the original article [3].