2026 Tax Brackets
Find out what tax bracket you’re in and how that impacts what you owe the government.
The United States’ progressive tax code is based on tax brackets determined by the U.S. Department of Treasury and divided by income – the more you earn, the higher the percentage of income you owe taxes on, depending on your bracket.
The progressive nature of the brackets means that you pay the lowest percentage on the chunk of income that qualifies for that percentage. The percentage of taxes you pay increases on each part of your income that relates to each higher bracket.
The bracket is for the tax year, not the year you file your income taxes. That means the 2026 tax brackets are for the tax return you’ll file in early 2027. Your taxable income is based on factors that include total income, total adjusted income, filing jointly or as an individual, dependents, deductions, and credits. Deductions, both built-in and those you can choose to take, reduce your taxable income and, possibly, which tax bracket you are in. Actions you take during the tax year can lead to a smaller tax bill when you file in the new year. Do your taxes early to make sure you don’t overlook something.
Let’s take a look at the 2026 tax brackets and how they relate to your income.
2026 Tax Brackets
Tax brackets are adjusted every year for cost of living and inflation. Your taxable income, the amount after taking “above the line” deductions and then the standardized deduction or itemized deductions, is what you’re taxed on.
The 2026 tax brackets were adjusted for both indexing – these are automatic changes that adjust standardized deductions and some other deductions annually for cost of living – as well as tax deductions and credits that go beyond indexing. In all, some 60 tax filing adjustments were made, some temporary and some permanent. The seven brackets extended what was set in the 2017 Tax Cuts and Jobs Act that went into effect for the 2018 tax year, making permanent a standardized deduction double what it had been before (while eliminating some itemized deductions), and decreasing the amount of the highest bracket from 39.6% to 37%.
The most significant change for most taxpayers is that the ceiling for each bracket was increased between 2.7% to 4% to account for inflation and cost of living.
If you are newly divorced or single, or even have had that status for a while, and have children or other dependents, check to see if you qualify as head of household, rather than single filer. Heads of household have a higher income ceiling for the first three brackets.
The range in each bracket increases, from $37,999 between the second and third, to $55,299 between the third and fourth, and $54,449 between the fourth and fifth. But If you are in the fifth bracket, and your taxable income is $256,226 or higher, the leap to the top bracket is much greater – you’ll have to earn more than $640,600 to move into it.
Here is a look at what the brackets and tax rates are for 2026 (filing 2027):
| Tax rate | Single filers | Married filing jointly* | Married filing separately | Head of household |
|---|---|---|---|---|
| 10% | $0 – $12,400 | $0 – $24,800 | $0 – $12,400 | $0 – $17,700 |
| 12% | $12,401 – $50,400 | $24,801 – $100,000 | $12,401 – $50,400 | $17,701 – $67,450 |
| 22% | $50,401 – $105,700 | $100,801 – $211,400 | $50,401 – $105,700 | $67,451 – $105,700 |
| 24% | $105,701 – $201,775 | $211,401 – $403,550 | $105,701 – $201,775 | $105,701 – $201,775 |
| 32% | $201,776 – $256,225 | $403,551 – $512,450 | $201,776 – $256,225 | $201,776 – $256,200 |
| 35% | $256,226 – $640,600 | $512,451 – $768,700 | $256,226 – $640,600 | $256,201 – $640,600 |
| 37% | $640,601 or more | $768,701 or more | $640,601 or more | $640,601 or more |
*Qualifying widow(er)s can use the joint tax rates
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How Are Tax Brackets Set?
Tax brackets are set by Congress, and have changed frequently since an income tax was first created in the U.S. in 1913.
The number of tax brackets has ranged from two to 50 over the years. The current seven brackets were established by the Tax Cuts and Jobs Act of 2017, which was to expire at the end of 2025. The 2025 tax bill, known as the “One Big Beautiful Bill,” made them permanent. But, of course, that doesn’t mean Congress can’t change them again.
In the 2025 tax bill some changes, particularly cuts that benefit wealthy individuals and corporations, were made permanent. Other deductions, like the one that allows up to $25,000 in tip money for some tipped workers, $12,000 in overtime for some workers, and an increased deduction for taxpayers 65 and over (known as “no taxes on Social Security, though that’s not specifically what it is), expire in three years.
Many factors go into tax code changes – the economy plays a big part, as well as politics.
Congress began indexing the brackets – automatically adjusting for cost of living inflation – in 1981. Before they, they frequently had to make changes through legislation to adjust for cost of living. In the early 2000s, the process was expanded to include “extenders,” in which Congress made policy changes that would expire after a set amount of time. A new Congress can either make the changes permanent, or let them expire.
The highest tax bracket for top earners was 94% in 1945. It began dropping in the decades after, and had its most significant decreases in the early 1980s, when it dropped from 69% in 1981, to 28% in 1983. It rose up to 40% in 1993, and since then has toggled between that and 35%.
The lowest tax bracket’s highest amount was 23% in 1945, and slowly decreased until it hit 10% in 2001, where it has been ever since.
The current brackets are 10%, 12%, 22%, 24%, 32%, 35% and 37%. Those changes, in general, resulted in lower taxes for most Americans than what they had paid before.
Changes to the brackets, though, aren’t the full story. Most tax policy changes include more than just changes to brackets. For instance, the 2025 tax bill increased the child tax credit, which means parents owe less in taxes. It also, though, eliminated several tax credit programs, including many that incentivized consumers to make energy-saving changes to their home or transportation. Those are only some examples of how the tax bracket your income falls in may not be the full story of how much you’ll owe in taxes.
How to Determine Your Tax Bracket
Determining your tax bracket hinges on two things: filing status and taxable income. The IRS recognizes five filing statuses:
- Single Filing – Unmarried, legally separated and divorced individuals all qualify as single.
- Married Filing Jointly – A married couple agrees to combine income and deduct the allowable expenses.
- Married Filing Separately – A married couple files separate tax returns to keep an individual income lower. This is beneficial in certain situations, like repaying student loans under an income-driven repayment plan.
- Head of Household – Unmarried individuals who paid more than half the cost of keeping up a home for the year and have a qualifying dependent person living with them in their home for more than half the year. To qualify, your spouse can not have been a member of the household for the last six months of the tax year.
- Qualifying Widow(er) – A widow(er) can file jointly in the year of their spouse’s death. A qualifying widow(er) has a dependent child and can use the joint tax rates and the highest deduction amount for the next two years after their spouse’s death.
How to Calculate Taxable Income
Take these steps to determine your taxable income:
- Begin with your gross income, which is what you earned during the tax year, including income from jobs (box 1 on your W-2), owning a business, retirement (pension, 401(k) withdrawals, Social Security), rents, and/or investment earnings.
- Determine your adjusted gross income (AGI), which are the adjustments made before the standardized deduction, or itemized deductions, are applied. These include things like student loan interest payments, K-12 educator expenses, HSA contributions, 50% of self-employment tax, qualified retirement account contributions, and penalties on early savings withdrawal. Check out the IRS website for details on what qualifies.
- Apply either the standardized deduction or itemized deductions to your AGI. Most people take the standardized deduction, since it simplifies doing taxes and for the average income-earner, it’s likely more than your itemized deductions would be. If you prefer to itemize, it’s a good idea to hire a tax professional to prepare you taxes. They understand tax law and policy and can squeeze the most out of any deductions you may qualify for.
The standardized deduction is determined by your filing status. The standard deductions for the 2026 tax year, due April 15, 2027:
- Single filers: $16,100
- Married filing jointly: $32,200
- Married filing separately: $16,100
- Heads of households: $24,150
- 65 and older: $2,050 added to standardized deduction; $1,025 for married filing jointly. For tax years 2025-2028, whether taking the standardized deduction or not, single taxpayers may add $6,000 instead, $12,000 for married filing jointly. This phases out with income above $75,000 single, $150,000 married. Married taxpayers must file jointly and both be 65 or older, otherwise they take the indexed deduction.
Standardized Deduction Non-Qualifiers
You don’t qualify for the standard deduction if you are:
- A married individual whose spouse itemizes deductions and files as married filing separately
- An individual who was a nonresident alien or dual status alien during the year (some exceptions apply, see IRS Tax Topic 551)
- An individual who files a return for a period of less than 12 months because of a change in their annual accounting period
- An estate or trust, common trust fund, or partnership
How Tax Brackets Work
The tax bracket your income falls into does not represent the percentage of tax that you pay on your entire income. For instance, if you are in the 24% tax bracket, that does not mean your entire income is taxed at 22%. The progressive tax bracket structure means that portions of your income are taxed at certain rates, with the rate increasing as income does. You only pay the highest tax bracket percentage you qualify for on the part of your income that is within that bracket.
Marginal Tax Rates
Marginal tax rates are the rate you pay at each level (bracket) of income. Earnings stack upon earnings as the year goes on, kind of an inverted pyramid. Whether your taxable income is $40,000 a year, $400,000, or $40 million, the first $12,400 you earn is taxed the same (10%). The next $37,999, up to a $50,400 total taxable income level, is taxed at 12%, and so on up the ladder, with the percentage increasing with income.
For instance, if your taxable income is $52,000, you pay 10% on the first $12,400 you earn, 12% on $12,401-$50,400, and 22% on the final $1,599, under the 2026 brackets. If your taxable income is more, you pay increasing percentages on the set amounts of each bracket, topping out at 37% on $640,601.
Effective Tax Rates
The actual percentage of the taxable income you owe the IRS is called an effective tax rate. To calculate your effective tax rate, divide the total amount of tax you owe by your taxable income. Your effective tax rate will be much lower than the rate from your tax bracket, which claims against only your top-end earnings.
Alternative Minimum Taxes (AMT)
The alternative minimum tax (AMT) is for high-income earners to keep them from taking too much advantage of tax shelters. Events that can trigger AMT are exercising incentive stock options (ISOs), a large bonus or sudden income spike, or a large capital gains windfall.
Those who may be required to use it calculate their taxes the standard way, then with AMT, and pay taxes on AMT if it’s higher. The formula to determine AMT can be found at IRS Tax Top 556.
Depending on income, those who must pay AMT get an exemption, part of the complicated formula to determine AMT income. In 2026, the exemption was $90,100 for individual taxpayers and $140,200 for married, filing jointly. The ceiling for phase-out was lowered slightly with the 2025 tax bill, with individuals earning more than $500,000 and married couples earning more than $1 million getting less of an exemption.
| Filing Status | Exemption Amount | Phase Out |
|---|---|---|
| Single Individuals | $90,100 | $500,000 |
| Married Filing Jointly | $140,200 | $1,000,000 |
Source: Internal Revenue Service
Capital Gains Tax
A capital gain is any profit made from selling an asset, such as stocks, bonds, real estate and collectibles. They’re generally considered income by the IRS and taxed at the same rate other income is.
The exception, though, is long-term capital gains — gains from an asset that you held for more than a year. These are taxed at a lower rate.
2026 tax brackets for long-term capital gains (investments held for more than one year) are zero for anything $48,350 for individual filers, $96,700 for married, filing jointly; and $64,750 for head of household. They’re taxed at 15% and 20% for higher amounts. An additional 3.8% bump applies to filers with higher modified adjusted gross incomes (MAGI).
| Tax rate | Single filers | Married filing jointly* | Married filing separately | Head of household |
|---|---|---|---|---|
| 0% | $0 – $48,350 | $0 – $96,700 | $0 – $48,350 | $0 – $64,750 |
| 15% | $48,351 – $533,400 | $96,701 – $600,050 | $48,351 – $300,000 | $64,751 – $566,700 |
| 20% | $533,401+ | $600,051+ | $300,001+ | $566,701+ |
Kiddie Tax
Sorry, parents. There’s no hiding income in your children’s names. The so-called “kiddie tax” – officially the Unearned Income of Minor Children Tax – is applied to any unearned income (dividends, interest, capital gains) of children under the 18 at the end of the tax year, or between 19 and 24 and a full-time student and doesn’t have earned income that’s more than half of their support.
Children with accounts that earn more than $2,700 in dividends and interest in 2026 are liable for taxes according to the rates applied to trusts and estates, and parents must file a tax return in the child’s name on the money. If the income is more than $1,350, parents may still have to file a tax return, even though the income won’t be taxed.
If the money is their child’s only income, and is less than $13,500, parents may include it as part of their own gross income, rather than file a separate return for the child. The kiddie tax still applies.
How to Calculate Your Tax Bill
Your “taxable income” determines the highest tax rate you’ll pay. Taxable income is your adjusted gross income reduced by “below the line” deductions.
The steps to calculating your federal tax bill are:
- First, get your AGI by deducting “above the line” deductions. These are deductions you take whether you take the standardized deduction, or itemize. Some of these are student loan interest, contributions to traditional IRAs and health savings accounts, a portion of self-employment taxes, alimony payment, and others.
- Once you’ve determined AGI, either take the standardized deduction or itemize your deductions to determine taxable income, and what the highest tax rate you’ll pay is. As an example, let’s assume your AGI is $62,000 and you take the standardized deduction for the 2026 tax year, which is $16,100. The standardized deduction subtracted from their AGI of $62,000 results in a taxable income of $45,900. That taxable income means your highest bracket is the 12% tax bracket ($12,401-$50,400).
- Calculate tax for each bracket. The first $12,400 of taxable income is taxed by the first bracket rate of 10%. To determine first-bracket taxes, multiply $12,400 by .1 (10%). Taxes owed on that amount will be $1,240.
To determine taxes paid on the remaining $33,500, multiply it by .12 (12%). $33,500 x .12 is $4,020.
- Add up the amounts for the two brackets, and, in the example, the tax bill is $5,260.
State and Local Tax Brackets
If you live in one of the 41 states or Washington D.C. that has an income tax, it’s determined separately from your federal income tax with totally different brackets and rates, much lower than the federal rates. Some cities also impose income taxes.
Some 26 states with income taxes have graduated tax rates – those that rise with income amount – while 15% have flat tax rates that apply to all tax players, no matter income.
California had graduated rates with the highest top tax rate in the United States in 2026, 12.3% in 2026, followed by Hawaii (11%), New York (10.9%) and New Jersey (10.75%). The highest flat rate state income tax is Idaho, at 5.695%.
Not including the nine states that don’t have a state income tax, the lowest rate is North Dakota’s graduated rate of 0-.25% and Arizona’s 2.5% flat rate. Ohio has a flat rate of 2.75%, but the first $26,050 is exempt, giving a break to lower-income earners.
Each state with an income tax has different deductions, exemptions and brackets. To find out what your state does, check out the state government’s website.
States without an income tax are Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming. New Hampshire, up until the 2025 tax year, did charge an income tax on interest and dividends, but no longer does.
How to Reduce Taxable Income and Drop into a Lower Tax Bracket
The two ways to reduce your tax bill through credits and deductions. A tax credit is subtracted from the amount of tax you owe. Deductions reduce the amount of income you pay taxes on. The biggest advantage of tax deductions is that they can drop you into a lower bracket, and cut your tax bill by a little or a lot.
You can be proactive about reducing your taxes during the year by making changes that will reduce your taxable income, like upping your 401(k) contributions or your HAS.
Tax credits and deductions available to taxpayers can change from year to year. Some are only for a set time and expire. Others may be added or eliminated through new tax bills, such as the one passed by Congress in June 2025. For instance, most credits for energy-efficient home improvements and residential clean energy systems expired after the 2025 tax year.
Tax Credits
Tax credits come in two types: nonrefundable and refundable.
Nonrefundable credits can be subtracted from your tax bill until it reaches 0. Refundable credits are paid in full, no matter your income or how much you owe. If they amount to more than your tax bill, the extra money is included in your return.
The IRS has a page with a list of, and information on, credits and deductions. Some that may apply to you are:
- Child tax credit. Parents get a credit of $2,200 for each qualifying minor child in their household, with up to $1,700 refundable.
- Child and dependent care credits. These pay up to 50% of qualifying expenses, with a maximum of $3,000 for one child or dependent care household member, or $6,000 for two or more. These are for children under 13, a spouse or parent who’s incapacitated. Nonrefundable.
- Earned income tax credit. This was a maximum $8,321 for the 2026 tax year, and is for low-income earners, depending on income, filing status and number of children. Refundable.
- Adoption Credit. A maximum of $17,670 to help cover adoption expenses for a child under 18 or with a disability. Partially refundable up to $5,000.
- American Opportunity Tax Credit. For low-income students pursuing post-secondary education, up to $2,500 of qualified education expenses for the first four years, including tuition, and other class-related expenses (does not cover room and board). Up to 40% refundable.
- Lifetime Learning Credit. Up to $2,000 per tax return to help pay for qualified expenses for undergraduate, graduate, and professional degree courses, phases out for students earning more than $90,000 modified adjusted gross income. Nonrefundable.
- Saver’s Credit. Up to 50% of contribution to a workplace retirement plan or IRA, maximum $1,000 for individuals, $2,000 for married filing jointly. Nonrefundable.
Tax Deductions
Deductions reduce taxable income, and can significantly lower your tax bill, particularly if it drops you into a lower bracket. Some are above-the-line deductions, which are those that everyone deducts, whether they take the standardized deduction or not. Others are only for those who itemize deductions. If your itemized deductions don’t add up to the standardized deduction, it’s a better idea to take the standardized deduction. Some, like 401(k) and health savings account contributions reduce your taxable income throughout the year, meaning you pay lower taxes.
Popular deductions include:
- Mortgage interest: Reduces taxable income by the amount of interest paid on a home mortgage. Itemized.
- Contributions to a 401(k): Up to $24,500 in 2026 (up to $32,500 for those 50 or older) can come out of your income pre-tax throughout the year, which reduces the amount of income you’ll be taxed on.
- Student loan interest deductions: Up to $2,500 in interest on student loan payments can be deducted by taxpayers, begins phasing out at $85,000 and phases out completely at $100,000 ($175,00 and $205,000 for married filing jointly). This is an above-the-line deduction.
- Charitable donations: Beginning with the 2025 tax year, those taking the standardized deduction could also deduct $1,000 for charitable donations to qualified nonprofits ($2,000 for joint filers). Those who itemize can deduct if their donations exceed 0.5% of AGI.
- Medical expenses: Qualified unreimbursed medical expenses, if they equal more than 7.5% of AGI can be deducted for those who itemize.
- State and local taxes: Up to $40,000 for individual filers in 2025, rising 1% a year through the 2028 tax year, when it reverts back to $10,000 for a combination of property taxes, state and local income taxes, or sales taxes. For those who itemize.
- Health Savings Account/Health Flexible Savings Account contributions: Like a 401(k), these contributions reduced your taxable income over the course of the year. The 2026 ta year limits were $4,400 for an individual and $8,750 for a family for HSAs and $3,400 with a $680 carryover for Healthcare FSAs.
- Self-employment expenses for freelancers, contractors, and other self-employed people: Deductible for those who itemize. This includes home office expenses, with very strict qualifications.
- Educator expenses: Teachers can deduct $350 of out-of-pocket expenses ($700 for married couples filing jointly if both are educators). This is an above-the-line deduction.
- Gambling losses: Beginning with the 2026 tax year, limited to an amount that’s not more than 90% of total gambling winnings. For those who itemize.
- Senior deduction: Through tax year 2028, those 65 or older deduct an extra $6,000 from standardized deduction, phases out after $75,000 income. This was touted as “no taxes on Social Security” with the 2025 tax bill, but seniors still do pay taxes on Social Security, and those under 65 who collect Social Security don’t get the deduction.
- “No taxes on tips” and “No taxes on overtime”: These deductions were created with the 2025 tax bill and expire after the 2028 tax year. You do pay federal taxes on overtime and tips through the year, but then can deduct up to $25,000 in tip money and $12,000 in overtime at tax time if you qualify. Tips must be reported accord to Federal Labor Law during the year and only certain jobs qualify. Overtime must be for a full-time, year-round job and there are other restrictions. Check out the IRS web page for more information.
Get Help from a Tax Preparer
Individuals and households who can claim tax credits and deductions, particularly those who are self-employed or have other complicating issues, can benefit from hiring a tax preparer. Accounts and tax services know how to save you money and understand the complicated tax code. What you get back in savings is often well worth the fee.
There is also online tax filing software available that can make a complicated return much easier to complete.
Previous Years’ Tax Brackets
2025 Tax Brackets (Due April 15, 2026)
Here is a look at what the brackets and tax rates are for 2025 (filing 2026):
| Tax Rate | Single | Married Filing Jointly | Married Filing Separately | Head of Household |
|---|---|---|---|---|
| 10% | $0 – $11,925 | $0 – $23,850 | $0 – $11,925 | $0 – $17,000 |
| 12% | $11,926 – $48,475 | $23,851 – $96,950 | $11,926 – $48,475 | $17,001 – $64,850 |
| 22% | $48,476 – $103,350 | $96,951 – $206,700 | $48,476 – $103,350 | $64,851 – $103,350 |
| 24% | $103,351 – $197,300 | $206,701 – $394,600 | $103,351 – $197,300 | $103,351 – $197,300 |
| 32% | $197,301 – $250,525 | $394,601 – $501,050 | $197,301 – $250,525 | $197,301 – $250,500 |
| 35% | $250,526 – $626,350 | $501,051 – $751,600 | $250,526 – $375,800 | $250,501 – $626,350 |
| 37% | $626,351 or more | $751,601 or more | $375,801 or more | $626,351 or more |
*Qualifying widow(er)s can use the joint tax rates
2024 Tax Brackets (Due April 15, 2025)
Here is a look at what the brackets and tax rates are for 2024 (filing 2025):
| Tax Rate | Single | Married Filing Jointly | Married Filing Separately | Head of Household |
|---|---|---|---|---|
| 10% | $0 to $11,600 | $0 to $23,200 | $0 to $11,600 | $0 to $16,550 |
| 12% | $11,600 to $47,150 | $23,200 to $94,300 | $11,600 to $47,150 | $16,550 to $63,100 |
| 22% | $47,150 to $100,525 | $94,300 to $201,050 | $47,150 to $100,525 | $63,100 to $100,500 |
| 24% | $100,525 to $191,950 | $201,050 to $383,900 | $100,525 to $191,950 | $100,500 to $191,950 |
| 32% | $191,950 to $243,725 | $383,900 to $487,450 | $191,950 to $243,725 | $191,950 to $243,700 |
| 35% | $243,725 to $609,350 | $487,450 to $731,200 | $243,725 to $609,350 | $243,700 to $609,350 |
| 37% | $609,350 or more | $731,200 or more | $609,350 or more | $609,350 or more |
*Qualifying widow(er)s can use the joint tax rates
2023 Tax Brackets (Due April 15, 2024)
Here is a look at what the brackets and tax rates are for 2023 (filing 2024):
| Tax rate | Single filers | Married filing jointly* | Married filing separately | Head of household |
|---|---|---|---|---|
| 10% | $0 – $11,000 | $0 – $22,000 | $0 – $11,000 | $0 – $15,700 |
| 12% | $11,001 – $44,725 | $22,001 – $89,450 | $11,001 – $44,725 | $15,701 – $59,850 |
| 22% | $44,726 – $95,375 | $89,451 – $190.750 | $44,726 – $95,375 | $59,851 – $95,350 |
| 24% | $95,376 – $182,100 | $190,751 – $364,200 | $95,376 – $182,100 | $95,351 – $182,100 |
| 32% | $182,101 – $231,250 | $364,201 – $462,500 | $182,101 – $231,250 | $182,101 – $231,250 |
| 35% | $231,251 – $578,125 | $462,501 – $693,750 | $231-251 – $346.875 | $231,251 – $578,100 |
| 37% | $578,125 or more | $647,851 or more | $346,876 or more | $578,101 or more |
*Qualifying widow(er)s can use the joint tax rates
2022 Tax Brackets (Due April 18, 2023)
Here is a look at what the brackets and tax rates are for 2022 (filing 2023):
| Tax rate | Single filers | Married filing jointly* | Married filing separately | Head of household |
|---|---|---|---|---|
| 10% | $0 – $10,275 | $0 – $20,550 | $0 – $10,275 | $0 – $14,650 |
| 12% | $10,276 – $41,775 | $20,551 – $83,550 | $10,276 – $41,775 | $14,651 – $55,900 |
| 22% | $41,776 – $89,075 | $83,550 – $178,150 | $41,776 – $89,075 | $55,001 – $89,050 |
| 24% | $89,076 – $170,050 | $178,151 – $340,100 | $89,076 – $170,050 | $89,051 – $170,050 |
| 32% | $170,051 – $215,950 | $340,101 – $431,900 | $170,051 – $215,950 | $170,051 – $215,950 |
| 35% | $215,951 – $539,900 | $431,901 – $647,850 | $215,951 – $323,925 | $215,951 – $539,900 |
| 37% | $539,901 or more | $647,851 or more | $323,926 or more | $539,901 or more |
*Qualifying widow(er)s can use the joint tax rates
2021 Tax Brackets (Due April 18, 2022)
Here is a look at what the brackets and tax rates are for 2021 (filing 2022):
| Tax rate | Single filers | Married filing jointly* | Married filing separately | Head of household |
|---|---|---|---|---|
| 10% | $0 – $9,950 | $0 – $19,900 | $0 – $9,950 | $0 – $14,200 |
| 12% | $9,951 – $40,525 | $19,901 – $81,050 | $9,951 – $40,525 | $14,201 – $54,200 |
| 22% | $40,526 – $86,375 | $81,051 – $172,750 | $40,526 – $86,375 | $54,201 – $86,350 |
| 24% | $86,376 – $164,925 | $172,751 – $329,850 | $86,376 – $164,925 | $86,351 – $164,900 |
| 32% | $164,926 – $209,425 | $329,851 – $418,850 | $164,925 – $209,425 | $164,901 – $209,400 |
| 35% | $209,426 – $523,600 | $418,851 – $628,300 | $209,426 – $314,150 | $209,401 – $523,600 |
| 37% | $523,601 or more | $628,300 or more | $314,151 or more | $523,601 or more |
*Qualifying widow(er)s can use the joint tax rates
2020 Tax Brackets (Due May, 17 2021)
Here is a look at what the brackets and tax rates are for 2020:
| Tax rate | Single filers | Married filing jointly* | Married filing separately | Head of household |
|---|---|---|---|---|
| 10% | $0 – $9,875 | $0 – $19,750 | $0 – $9,875 | $0 – $14,100 |
| 12% | $9,875 – $40,125 | $19,751 – $80,250 | $9,876 – $40,125 | $14,101 – $53,700 |
| 22% | $40,126 – $85,525 | $80,251 – $171,050 | $40,126 – $85,525 | $53,701 – $85,500 |
| 24% | $85,526 – $163,300 | $171,051 – $326,600 | $85,526 – $163,300 | $85,501 – $163,300 |
| 32% | $163,301 – $207,350 | $326,601 – $414,700 | $163,301 – $207,350 | $163,301 – $207,350 |
| 35% | $207,351 – $518,400 | $414,701 – $622,050 | $207,351 – $311,025 | $207,351 – $518,400 |
| 37% | $518,401 or more | $622,051 or more | $311,026 or more | $518,401 or more |
*Qualifying widow(er)s can use the joint tax rates
Taxes were originally due April 15, but as with a lot of things, it changed in 2020. The tax deadline was extended to July 15 in order to let Americans get their finances together without the burden of a due date right around the corner.
Sources:
- N.A. (2023, November 9) IRS provides tax inflation adjustments for tax year 2024. Retrieved from https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2024
- N.A. (2022, October 18) Revenue procedure 22-38. Retrieved from https://www.irs.gov/pub/irs-drop/rp-22-38.pdf
- N.A. (2023, April) Deductions for individuals: What they mean and the difference between standard and itemized deductions. Retrieved from https://www.irs.gov/newsroom/deductions-for-individuals-what-they-mean-and-the-difference-between-standard-and-itemized-deductions
- N.A. (2024, November 7) IRS publishes 2024 Financial Report; resolves longstanding significant deficiency. Retrieved from https://www.irs.gov/newsroom/irs-publishes-2024-financial-report-resolves-longstanding-significant-deficiency
- N.A. (ND) Credits and Deductions. Retrieved from https://www.irs.gov/credits-and-deductions
- A. Yushkov (2024, February 20) State Individual Income Tax Rates and Brackets, 2024. Retrieved from https://taxfoundation.org/data/all/state/state-income-tax-rates-2024/
- N.A. (ND) Publication 505 (2023), Tax Withholding and Estimated Tax. Retrieved from https://www.irs.gov/publications/p505
- N.A. (ND) Topic No. 409, Capital Gains and Losses. Retrieved from https://www.irs.gov/taxtopics/tc409