Articles

Federal Income Tax Brackets and Rates

calculator and tax forms

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 2022 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 2022.

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 $10,275 $0 to $20,550 $0 to $14, 650
12% $10,275 to $41,775 $20,550 to $83,550 $14,650 to 55,900
22% $41,775 to $89,075 $83,550 to $178,150 $55,900 to $89,050
24% $89,075 to $170,050 $178,150 to $340,100 $89,050 to $170,050
32% $170,050 to $215,950 $340,100 to $431,900 $170,050 to $215,950
35% $215,950 to $539,900 $431, 900 to $647,850 $215,950 to 539,900
37% $539,900 or more $647,850 or more $523,900 or more

There is also adjustments made to the standard deduction with an increase of $400 for single filers and  $800 for those married and filing jointly. Changes to deductions, including the $10,000 cap on state, local and property tax deductions has left more people continuing to take the standard deduction than itemizing their deductions as they have done in the past.

2022 Table for Standard Deduction

Filing Status Deduction
Single $12,950
Married, Filing Jointly $25,900
Head of Household $19,400

 

You can estimate your 2021 federal tax liability by using our calculator. Also, look further at whether to itemize or take the standard deduction.

*Updated April 2022