That’s because, using marginal tax rates, only a portion of your income is taxed at the 24% rate. Since $100,000 is in the 24% bracket for singles, will your 2022 tax bill simply a flat 24% of $100,000 – or $24,000? No! Your tax is actually less than that amount. Suppose you’re single and end up with $100,000 of taxable income in 2022. Learn more about how tax brackets work HERE. If you still haven’t filed your 2021 tax return yet, or you just want to compare to see what’s changed, here are the 2021 tax brackets and rates: 2021 Tax Brackets for Single Filers and Married Couples Filing Jointly Tax RateĢ021 Tax Brackets for Married Couples Filing Separately and Head-of-Household Filers Tax Rate

2022 Tax Brackets for Married Couples Filing Separately and Head-of-Household Filers Tax Rate When you’re working on your 2022 federal income tax return next year, here are the tax brackets and rates you’ll need:Ģ022 Tax Brackets for Single Filers and Married Couples Filing Jointly Tax Rate Now, let’s get to the actual tax brackets for 20. (For 2021, the 22% tax bracket for singles went from $40,526 to $86,375, while the same rate applied to head-of-household filers with taxable income from $54,201 to $86,350.) So, that’s something else to keep in mind when you’re filing a return or planning to reduce a future tax bill. However, for head-of-household filers, it goes from $55,901 to $89,050. For example, for single filers, the 22% tax bracket for the 2022 tax year starts at $41,776 and ends at $89,075.

The 20 tax bracket ranges also differ depending on your filing status. That means you could wind up in a different tax bracket when you file your 2022 federal income tax return than the bracket you were in before – which also means you could pay a different tax rate on some of your income. However, as they are every year, the 2022 tax brackets were adjusted to account for inflation. The 2022 tax rates themselves are the same as the rates in effect for the 2021 tax year: 10%, 12%, 22%, 24%, 32%, 35% and 37%. Unless you requested an extension to file your 2021 return, the next return that most people will have to file is their federal tax return for the 2022 tax year - which, by the way, will be due on Ap(or October 16, 2023, if extended). It’s never too early to start thinking about your next tax return.

Federal income tax brackets 2020 2021