Even though April 15 falls on a Friday this year, the deadline for your 2010 Form 1040 is Monday April 18. Emancipation Day is a District of Columbia holiday that falls on April 15 so the tax filing deadline for the whole nation is deferred to April 18 . If your return won't be ready by then, you can extend the deadline all the way out to October 17 by filing Form 4868 on or before April 18.
Personal exemption: $3,650 ($3,800 in 2012, $3,700 in 2011)
Standard deduction:
MFJ/QW $11,400 ($11,900 in 2012, $11,600 in 2011)
HH $8,400 ($8,700 in 2012, $8,500 in 2011, $8,350 in 2009)
Single / MFS $5,700 ($5,950 in 2012, $5,800 in 2011)
Maximum Earned Income Credit
$5,666 if 3 or more qualifying children ($5,891 in 2012, $5,751 in 2011, $5,657 in 2009)
$5,036 if 2 qualifying children (from $5,028 in 2009)
$3,050 if 1 qualifying child (from $3,043 in 2009)
$457 if no qualifying child (same)
Income Limits for Earned Income Credit
- Three or more qualifying children and earn less than $43,352 ($48,362 if MFJ)
- Two qualifying children and earn less than $40,363 ($45,373 if MFJ)
- One qualifying child and earn less than $35,535 ($40,545 if MFJ)
- No qualifying child and earn less than $13,460 ($18,470 if MFJ)
The maximum amount of wages subject to social security tax is $106,800 (same as 2009).
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