At the top end of the brackets, single filers owe the max rate of 37% for taxable income above $539,900 in 2022. Inflation drives up the price of everything from gas to groceries, but IRS inflation adjustments mean that the impact of inflation on 20 tax brackets and some tax credits isnt all bad. You only pay that top rate for the amount of taxable income you make above the bracket threshold.įor 2022, the lowest tax rate, 10%, applies to your first $10,275 of taxable income if you're a single filer. has a graduated-rate structure, your top rate isn't the the percentage you pay for all your income. 25,100 for Qualifying Widow (er) filer taxpayers.

25,100 for Married Filing Jointly taxpayers. They would apply to the tax return filed in 2023. 18,800 for Head of Household filer taxpayers. The first thing you need to know about federal tax brackets and income tax rates is that there are seven federal income tax rates. Below are the tax rates and income brackets that would apply to estates and trusts that were opened for deaths that occurred in 2022. 12,550 for Married Filing Separately taxpayers. It's important to remember that because the U.S. For tax year 2021, the standard deduction amounts are as follows: 12,550 for Single filer taxpayers. Hawaii Alaska Florida South Carolina Georgia Alabama North Carolina Tennessee RI Rhode Island CT Connecticut MA Massachusetts Maine NH New Hampshire VT Vermont New York NJ New Jersey DE Delaware MD Maryland West Virginia Ohio Michigan Arizona Nevada Utah Colorado New Mexico South Dakota Iowa Indiana Illinois Minnesota Wisconsin Missouri Louisiana Virginia DC Washington DC Idaho California North Dakota Washington Oregon Montana Wyoming Nebraska Kansas Oklahoma Pennsylvania Kentucky Mississippi Arkansas Texas File Your 2022 Taxes Today Tax brackets for 2022

2022 tax brackets irs