Revised tax brackets for 2022 were released by the IRS in November.
They were revised to account for inflation.
Social Security: Could you see a $2,753 monthly check?
Which bracket am I in?
Your annual gross income can be found on your W-2, which can help you identify your tax bracket. Read more about it here.
For your 2021 taxes, the tax brackets and rates are as follows:
- Thirty-seven percent: single taxpayers with incomes greater than $523,600 ($628,300 for married couples filing jointly)
- Thirty-five percent: incomes over $209,426 ($418,851 for married couples filing jointly)
- Thirty-two percent: incomes over $164,926 to $209,425 ($329,851 for married couples filing jointly)
- Twenty-four percent: incomes over $86,376 ($172,751 for married couples filing jointly)
- Twenty-two percent: incomes over $40,526 ($81,051 for married couples filing jointly)
- Twelve percent: incomes over $9,951 ($19,901 for married couples filing jointly)
- Ten percent: incomes of $9,950 or less ($19,900 for married couples filing jointly)
53 million workers paid 12% of income to the IRS in 2019. This represents the largest tax bracket.
In 2020, over 240 million returns were processed. Around $3.5 trillion was collected in federal income taxes.
When to expect your Idaho Tax Refund
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