The fate of 2011 individual income tax rates is still up in the air, but Congress could take action before the elections to provide clarity to the situation. With no Congressional action, tax rates would revert back to pre-2001 levels; however, the President has advocated keeping the first four tax brackets (10%, 15%, 25% and 28%) intact and increasing the top two brackets (currently 33% and 35%) to 36% and 39.6%.
So what does all this mean to you? Check out the full article, complete with tables! Continue reading