Payroll tax charts
T4032 Payroll Deductions Tables. Use T4032, Payroll Deductions Tables to calculate the Federal, Provincial and Territorial Income Tax Deductions, the Employment Insurance premiums, and the Canada Pension Plan contributions. The Internal Revenue Service (IRS) has announced the annual inflation adjustments for the year 2020, including tax rate schedules, tax tables and cost-of-living adjustments. In 2020, the income limits for all tax brackets and all filers will be adjusted for inflation and will be as follows (Table 1). The top marginal income tax rate of 37 percent will hit taxpayers with taxable income of $518,400 and higher for single filers and $622,050 and higher for married couples filing jointly.