IRS releases tax brackets for 2021 tax season

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.