Federal Income Tax Brackets and Rates
Understanding your tax bracket is key in determining the withholding from your paycheck, as well as to prepare you for the next tax season. For 2023 look for the bottom rate to remain at 10%, and the highest rate to stay at 37%. However, the income limits for all tax brackets will be adjusted for inflation. Below are the federal tax brackets and rates you can expect for tax year 2023.
Table for Tax Brackets and Rates
| Rate | Unmarried Individuals with Taxable Income Over | Married Individuals Filing Jointly with Taxable Income Over | Heads of Households with Taxable Income Over |
| 10% | $0 to $11,000 | $0 to $22,000 | $0 to $15,700 |
| 12% | $11,001 to $44,725 | $22,001 to $89,450 | $15,701 to 59,850 |
| 22% | $44,726 to $95,375 | $89,451 to $190,750 | $59,851 to $95,350 |
| 24% | $95,376 to $182,100 | $190,751 to $364,200 | $95,351 to $182,100 |
| 32% | $182,101 to $231,250 | $364,201 to $462,500 | $182,101 to $231,250 |
| 35% | $231,251 to $578,125 | $462,501 to $693,750 | $231,251 to 578,100 |
| 37% | $578,1256 or more | $693,751 or more | $578,101 or more |
There is also adjustments made to the standard deduction with an increase of nearly $1000 for single filers and up almost $2,000 for those married and filing jointly.
2023 Table for Standard Deduction
| Filing Status | Deduction |
| Single | $13,850 |
| Married, Filing Jointly | $27,700 |
| Head of Household | $20,800 |
You can estimate your 2022 federal tax liability by using our calculator. Also, look further at whether to itemize or take the standard deduction.
*Updated January 2023