What's New for 2011 Filing Season
| Tax Bracket | Single | Married Filing Jointly | Head of Household |
| 10% Bracket | $0 – $8,500 | $0 – $17,000 | $0 – $12,150 |
| 15% Bracket | $8,500 – $34,500 | $17,000 – $69,000 | $12,150 – $46,250 |
| 25% Bracket | $34,500 – $83,600 | $69,000 – $139,350 | $46,250 – $119,400 |
| 28% Bracket | $83,600 – $174,400 | $139,350 – $212,300 | $119,400 – $193,350 |
| 33% Bracket | $174,400 – $379,150 | $212,300 – $379,150 | $193,350 – $379,150 |
| 35% Bracket | $379,150+ | $379,150+ | $379,150+ |
The following changes will take effect
Child Tax Credit
The credit of $1,000 per eligible child will stay the same for 2010. After 2011 tax season, the child tax credit will be reduced back to $500. This is one of the cuts currently scheduled to expire after 2011.
Payroll Tax Credit
Starting in 2011, the partial credit for payroll taxes paid is still available at a 2% reduction.
Section 179 Expense Deduction
The maximum amount of equipment placed in service that businesses can expense is still at $250,000 in 2010 unless Congress acts to change it.
Tax Credit for College Tuition
The Hope Credit is limited to the first two years of college and is capped at $4,000. Tuition, books, supplies and equipment are deductible..
Earned Income Tax Credit (EITC)
Temporary increases in the Earned Income Tax Credit for filers with three or more children and the higher income levels for the phaseout of the credit are extended for this filing season.
Credit for Energy-Saving Home Improvements
The 30 percent tax credit of the cost of energy-saving home improvements stays at 30% percent during 2010, and is capped at $1,500.