IRS corrects 2013 tax tables in revenue procedure

BY SALLY P. SCHREIBER, J.D.

On Tuesday, the IRS announced corrections to two of the 2013 tax tables it issued on Jan. 11 in Rev. Proc. 2013-15. The corrections, as incorporated into the revised revenue procedure, are to Tables 1 and 2 of the tax rate tables in Rev. Proc. 2013-15, Section 2.01. 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.”

Sally P. Schreiber ( sschreiber@aicpa.org ) is a JofA senior editor.

SPONSORED REPORT

2018 financial reporting survey: Challenges and trends

Learn the top reporting challenges that emerged in a survey of more than 800 finance, accounting, and compliance professionals across the world, and compare them with your organization's obstacles.

PODCAST

How the skill set for today’s CFO is changing

Scott Simmons, a search expert for large-company CFOs, gives advice for the next generation of finance leaders and more, including which universities are regularly producing future CEOs and CFOs.