Tax Rates

TAX AUDIT HELP

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Tax Rates

2020 Federal Tax Rates, Personal Exemptions, Married/Joint Filing and Standard DeductionsIRS Tax Brackets and Deduction Amounts for Tax Year 20192020 Income Tax Brackets

The federal income tax has 7 brackets: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. The amount of tax you owe depends on your filing status and income level.It’s important to realize that moving into a higher tax bracket does not mean that all of your income will be taxed at a higher rate. Instead, only the money that you earn within a particular tax bracket is subject to that particular tax rate.

Single:

Tax Rate Taxable Income (Single) Taxable Income (Married, filing jointly)
10% Up to $9,875 Up to $19,750
12% $9,876 to $40,125 $19,751 to $80,250
22% $40,126 to $85,525 $80,251 to $171,050
24% $85,526 to $163,300 $171,051 to $326,600
32% $163,301 to $207,350 $326,601 to $414,700
35% $207,351 to $518,400 $414,701 to $622,050
37% Over $518,400 Over $622,051
 
2020 Tax Brackets for Married Couples Filing Separately and Head-of-Household Filers
 
Tax Rate 2020 Taxable Income (Married, filing separately) Taxable Income (Head of Household)
10% Up to $9,700 Up to $14,100
12% $9,701 to $39,475 $14,101 to $53,700
22% $39,476 to $84,200 $53,701 to $85,500
24% $84,201 to $160,725 $85,501 to $163,300
32% $160,726 to $204,100 $163,301 to $207,350
35% $204,101 to $306,175 $207,351 to $518,400
37% Over $306,176 Over $518,401