Less than a month into the 2012 tax reporting season, the Internal Revenue Service (IRS) has issued corrections to two of the 2013 tax tables it issued on Jan. 11. Rev. Proc. 2013-15. The corrections involve Tables 1 and 2 and are incorporated into the revised revenue procedure.
In Table 1, Married Individuals Filing Joint Returns and Surviving Spouses, the sixth entry in the “The Tax Is:” column was corrected to read “$107,768.50 plus 35% of the excess over $398,350.” Originally, it read “$107,768.00 plus 35% of the excess over $398,350.”
In Table 2, Head of Households, the seventh entry in the “The Tax Is:” column was corrected to read “$121,364.50 plus 39.6% of the excess over $425,000.” Originally, it read “$121,394.50 plus 39.6% of the excess over $425,000.”
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