Single taxpayers and married individuals filing separately: $12,950.The federal income tax rates for 2022 did not change from 2021. whether you are single, a head of household, married, etc). Married couples filing jointly: $25,900 The federal tax brackets are broken down into seven (7) taxable income groups, based on your federal filing statuses (e.g.
The above rates apply to taxable income, after the standard deduction (or itemized deductions) and other tax breaks have been taken. The IRS also announced that the standard deduction for 2022 was increased to the following: Your state may have different brackets, no taxes at all or a flat rate. To help you quickly figure out which IRS income tax bracket you’re in, check the IRS federal tax table for 2021: Federal Tax Brackets 2022 for Income Taxes Filed by April 18. And the alternative minimum tax exemption amount for next year will be 81,200. These are the rates and income brackets for federal taxes. Americas tax brackets are changing thanks to inflation.
The standard deduction is increasing to 27,700 for married couples filing together and 13,850 for single.
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