In case you were wondering, the IRS released the tax brackets it will use for individuals for the 2021 tax season — meaning the brackets you will use in 2022 to figure out your taxes for 2021.
The brackets are essentially the same as they were for the 2020 tax season — adjusted up slightly for inflation.
Their will be seven brackets, with the highest coming at 37%.
A look:
Single filers
- 10%: Incomes of $9,950 or less;
- 12%: Incomes over $9,950;
- 22%: Incomes over $40,525;
- 24%: Incomes over $86,375;
- 32%: Incomes over $164,925;
- 35%: Incomes over $209,425;
- 37%: Incomes over $523,600.
Married couples filing jointly
- 10%: Incomes of $19,900 or less;
- 12%: Incomes over $19,900;
- 22%: Incomes over $81,050;
- 24%: Incomes over $172,750;
- 32%: Incomes over $329,850;
- 35%: Incomes over $418,850;
- 37%: Incomes over $628,300.
Married couples filing separately
- 10% for incomes of $9,950 or less;
- 12% for incomes over $9,950;
- 22% for incomes over $40,525;
- 24% for incomes over $86,375;
- 32% for incomes over $164,925;
- 35% for incomes over $209,425;
- 37% for incomes over $523,600.
