Tax Update: Working Families

Beginning in 2005, the standard deduction for married couples is double the deduction for single taxpayers ($10,000 for married filing joint and $5,000 for single and married filing separate filers). 

The 15% tax bracket for married couples is double the corresponding tax bracket for single filers.  The 10% tax bracket remains at the 2003 levels for tax years 2005-2010 ($7, 300 for single taxpayers and $14,600 for married filing joint filers).