– 10% – applies to taxable income of $0 to $11,000 (single filers) or $0 to $22,000 (married filing jointly)
– 12% – applies to taxable income of $11,001 to $44,725 (single) or $22,001 to $89,450 (married filing jointly)
– 22% – applies to taxable income of $44,726 to $95,375 (single) or $89,451 to $190,750 (married filing jointly)
– 24% – applies to taxable income of $95,376 to $182,100 (single) or $190,751 to $364,200 (married filing jointly)
– 32% – applies to taxable income of $182,101 to $578,125 (single) or $364,201 to $693,750 (married filing jointly)
– 35% – applies to taxable income of $578,126 to $697,500 (single) or $693,751 to $1,047,200 (married filing jointly)
– 37% – applies to taxable income above $697,500 (single) or $1,047,200 (married filing jointly)
The income ranges for each bracket determine what percentage of tax is owed on that portion of income. Taxpayers can use the brackets to estimate their federal income tax liability. Note that income tax brackets are adjusted annually for inflation. Let me know if you need any clarification or have additional questions!
