Tax brackets help you understand how does income tax work in the United States.
Tax brackets specify the amount of your income subjected to a certain tax rate. This is so because the more you earn, the more you pay as taxes to the government.
This tax system enables the government to raise more revenue from those who can pay and redistribute the same to those who earn less. Below is a table of tax brackets used by the IRS in the collection of income tax from taxpayers:
Rate | Single | Heads of Households | Married (Filing Separately) | Married (Filing Jointly) |
10% | $0 – $11,000 | $0 – $15,700 | $0 – $11,000 | $0 – $22,000 |
12% | $11,001 – $44,725 | $15,701 – $59,850 | $11,001 – $44,725 | $22,001 – $89,450 |
22% | $44,726 – $95,375 | $59,851 – $95,350 | $44,726 – $95,375 | $89,451 – $190,750 |
24% | $95,376 – $182,100 | $95,351 – $182,100 | $95,376 – $182,100 | $190,751 – $364,200 |
32% | $182,101 – $231,250 | $182,101 – $231,250 | $182,101 – $231,250 | $364,201 – $462,500 |
35% | $231,251 – $578,125 | $231,251 – $578,100 | $231,251 – $346,875 | $462,501 – $693,750 |
37% | $578,126 + | $578,101 + | $346,876 + | $693,751 + |