Special Report: Tax Legislation 2004

CCH INCORPORATED's 2005 Tax Projections

Tax Bracket and Standard Deduction Changes for 2005
Projections by CCH Based on September 18 Inflation Figures

Tax Bracket and Standard Deduction Changes Factoring in “Extenders” Legislation

Married Filing Jointly (& Surviving Spouse)

2005 Taxable Income	Tax Rate	2004 Taxable Income	Tax Rate
$0-$14,600	10%	$0-$14,300	10%
$14,600-$59,400	15%	$14,300-$58,100	15%
$59,400-$119,950	25%	$58,100-$117,250	25%
$119,950-$182,800	28%	$117,250-$178,650	28%
$182,800-$326,450	33%	$178,650-$319,100	33%
over $326,450	35%	over $319,100	35%

Married Filing Separately

2005 Taxable Income	Tax Rate	2004 Taxable Income	Tax Rate
$0-$7,300	10%	$0-$7,150	10%
$7,300-$29,700	15%	$7,150-$29,050	15%
$29,700-$59,975	25%	$29,050-$58,625	25%
$59,975-$91,400	28%	$58,625-$89,325	28%
$91,400-$163,225	33%	$89,325-$159,550	33%
over $163,225	35%	over $159,550	35%

Single Filers

2005 Taxable Income	Tax Rate	2004 Taxable Income	Tax Rate
$0-$7,300	10%	$0-$7,150	10%
$7,300-$29,700	15%	$7,150-$29,050	15%
$29,700-$71,950	25%	$29,050-$70,350	25%
$71,950-$150,150	28%	$70,350-$146,750	28%
$150,150-$326,450	33%	$146,750-$319,100	33%
over $326,450	35%	over $319,100	35%

Head of Household

2005 Taxable Income	Tax Rate	2004 Taxable Income	Tax Rate
$0-$10,450	10%	$0-$10,200	10%
$10,450-$39,800	15%	$10,200-$38,900	15%
$39,800-$102,800	25%	$38,900-$100,500	25%
$102,800-$166,450	28%	$100,500-$162,700	28%
$166,450-$326,450	33%	$162,700-$319,100	33%
over $326,450	35%	over $319,100	35%

Standard Deduction Amounts

Filing Status	2005	2004	Increase
Married Filing Jointly (& Surviving Spouse)	$10,000	$9,700	$300
Married Filing Separately	$5,000	$4,850	$150
Single	$5,000	$4,850	$150
Head of Household	$7,300	$7,150	$150

The IRS usually releases official numbers by December each year. CCH tax bracket projections are provided for illustrative purposes only, and should not be used for income tax returns or other federal income tax related purposes until confirmed by the IRS later this year.