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Tax Rates
Year: 2024 - 2023 - 2022 - 2021 - 2020
2024 Tax Rates
Income Tax Brackets - Standard Mileage Rate - Standard Deduction - Education
Earned Income Tax Credit - Child Tax Credit - Adoption Tax Credit - Retirement
Income Tax Brackets
Income tax brackets segment income into various brackets, each associated with a specific tax rate that applies solely to the portion of income within that particular bracket.
FILING STATUS:Single
IF TAXABLE INCOME IS OVER:BUT NOT OVER:THE TAX IS:
$0$11,60010% of taxable income
$11,600$47,150$1,160 + 12% of the amount over $11,600
$47,150$100,525$5,426 + 22% of the amount over $47,150
$100,525$191,950$17,168.50 + 24% of the amount over $100,525
$191,950$243,725$39,110.50 + 32% of the amount over $191,150
$243,725$609,350$55,678.50 + 35% of the amount over $243,725
$609,350No limit$183,647.25+ 37% of the amount over $609,350
FILING STATUS:Head of Household
IF TAXABLE INCOME IS OVER:BUT NOT OVER:THE TAX IS:
$0$16,55010% of taxable income
$16,550$63,100$1,655 + 12% of the amount over $16,550
$63,100$100,500$7,241 + 22% of the amount over $63,100
$100,500$191,950$15,469 + 24% of the amount over $100,500
$191,950$243,700$37,417 + 32% of the amount over $191,150
$243,700$609,350$53,977 + 35% of the amount over $243,700
$609,350No limit$181,954.50 + 37% of the amount over $609,350
FILING STATUS:Married Filing Jointly
IF TAXABLE INCOME IS OVER:BUT NOT OVER:THE TAX IS:
$0$23,20010% of taxable income
$23,200$94,300$2,320 + 12% of the amount over $23,200
$94,300$201,050$10,852 + 22% of the amount over $94,300
$201,050$383,900$34,337+ 24% of the amount over $201,050
$383,900$487,450$78,221 + 32% of the amount over $383,900
$487,450$731,200$111,357 + 35% of the amount over $487,450
$731,200No limit$196,669 + 37 % of the amount over $731,200
FILING STATUS:Married Filing Separately
IF TAXABLE INCOME IS OVER:BUT NOT OVER:THE TAX IS:
$0$11,60010% of taxable income
$11,600$47,150$1,160 + 12% of the amount over $11,600
$47,150$100,525$5,426 + 22% of the amount over $47,150
$100,525$191,950$17,168.50 + 24% of the amount over $100,525
$191,950$243,725$39,110.50 + 32% of the amount over $191,150
$243,725$365,600$55,678.50 + 35% of the amount over $243,725
$365,600No limit$98,334.75 + 37% of the amount over $365,600
Standard Mileage Rate
Standard mileage rates are used for calculating the deductible expenses related to using a personal vehicle for work-related purposes. The rates are typically based on the number of miles driven and are meant to cover the cost of operating a vehicle, including fuel, maintenance, and depreciation.
USERATE
Business67 cents
Medical Care or Move (Military only)21 cents
Charitable14 cents
Standard Deduction
The standard deduction is a set amount that taxpayers can subtract from their adjusted gross income to reduce their taxable income. It is a flat dollar amount that varies depending on the taxpayer's filing status and is intended to simplify the tax filing process for individuals who may not have many itemized deductions. Taxpayers can choose to take the standard deduction or itemize their deductions, whichever results in a lower taxable income.
FILING STATUS:STANDARD DEDUCTION:
Married Filing Jointly/Surviving Spouses$29,200
Heads of Households$21,900
Single$14,600
Married Filing Separately$14,600
Education
The IRS offers education credits and student loan deductions to help taxpayers save money on education-related expenses. Education credits can help offset the cost of tuition, fees, and other eligible expenses for higher education.
NAMEMAXIMUM CREDIT
American Opportunity Credit (AOTC)$2,500
Lifetime Learning Credit (LLC)$2,000
Student Loan Interest Deduction$2,500
Earned Income Tax Credit
The Earned Income Tax Credit (EITC) is a refundable tax credit for low to moderate-income working individuals and families. It is designed to help reduce the tax burden and provide financial support to those who need it.
NUMBER OF QUALIFYING CHILDREN
OneTwoThree or MoreNone
Earned Income Amount$12,390$17,400$17,400$8,260
Maximum Credit Amount$4,213$6,960$7,840$632
Threshold Phaseout Amount (Married Filing Jointly)$29,640$29,640$29,640$17,250
Completed Phaseout Amount (Married Filing Jointly)$56,004$62,688$66,819$25,511
Threshold Phaseout Amount (All other filing statuses)$22,720$22,720$22,720$10,330
Completed Phaseout Amount (All other filing statuses)$49,084$55,768$59,899$18,591
Child Tax Credit
The Child Tax Credit (CTC) is a partially refundable financial benefit provided by the government to eligible families or individuals who have dependent children. It is designed to help reduce the financial burden of raising children by providing a tax credit that directly reduces the amount of tax owed. The credit is typically based on the number of qualifying children and their age.
MAXIMUM CREDIT
Child Tax Credit$2,000
Advance CTC (Refundable Portion)$1,700
Adoption Tax Credit
The Adoption Tax Credit is a nonrefundable tax credit that provides financial assistance to individuals who have adopted a child. The adoption tax credit helps offset some of the costs associated with adoption and provides support to families welcoming a new child into their home.
NAMEMAXIMUM CREDIT
Adoption Tax Credit$16,810
Retirement
The IRS sets annual contribution limits for retirement accounts like 401(k) plans and IRAs to help individuals save for retirement while receiving tax benefits. Contributions to these accounts are often tax-deductible, and the earnings grow tax-deferred until withdrawal.
NAMECONTRIBUTION LIMIT
401(k), 403(b), most 457 plans$23,000
Traditional/Roth IRAs$7,000
SIMPLE IRAs$16,000
2023 Tax Rates
Income Tax Rates
FILING STATUS:Single
IF TAXABLE INCOME IS OVER:BUT NOT OVER:THE TAX IS:
$0$11,00010% of taxable income
$11,000$44,725$1,100 + 12% of the amount over $11,000
$44,725$95,375$5,147 + 22% of the amount over $44,725
$95,375$182,100$16,290 + 24% of the amount over $95,375
$182,100$231,250$37,104 + 32% of the amount over $182,100
$231,250$578,125$52,832 + 35% of the amount over $231,250
$578,125No limit$174,238.25 + 37% of the amount over $578,125
FILING STATUS:Head of Household
IF TAXABLE INCOME IS OVER:BUT NOT OVER:THE TAX IS:
$0$15,70010% of taxable income
$15,700$59,850$1,570 + 12% of the amount over $15,700
$59,850$95,350$6,868 + 22% of the amount over $59,850
$95,350$182,100$14,678 + 24% of the amount over $95,350
$182,100$231,250$35,498 + 32% of the amount over $182,100
$231,250$578,100$51,226 + 35% of the amount over $231,250
$578,100No limit$172,623.50 + 37% of the amount over $578,100
FILING STATUS:Married Filing Jointly
IF TAXABLE INCOME IS OVER:BUT NOT OVER:THE TAX IS:
$0$22,00010% of taxable income
$22,000$89,450$2,200 + 12% of the amount over $22,000
$89,450$190,750$10,294 + 22% of the amount over $89,450
$190,750$364,200$32,580 + 24% of the amount over $190,750
$364,200$462,500$74,208 + 32% of the amount over $364,200
$462,500$693,750$105,664 + 35% of the amount over $462,500
$693,750No limit$186,601.50 + 37 % of the amount over $693,750
FILING STATUS:Married Filing Separately
IF TAXABLE INCOME IS OVER:BUT NOT OVER:THE TAX IS:
$0$11,00010% of taxable income
$11,000$44,725$1,100 + 12% of the amount over $11,000
$44,725$95,375$5,147 + 22% of the amount over $44,725
$95,375$182,100$16,290 + 24% of the amount over $95,375
$182,100$231,250$37,104 + 32% of the amount over $182,100
$231,250$346,875$52,832 + 35% of the amount over $231,250
$346,875No limit$93,300.75 + 37% of the amount over $346,875
Standard Mileage Rates
USERATE
Business65.5 cents
Medical Care or Move22 cents
Charitable14 cents
2022 Tax Rates
Income Tax Rates
FILING STATUS:Single
IF TAXABLE INCOME IS OVER:BUT NOT OVER:THE TAX IS:
$0$10,27510% of taxable income
$10,275$41,775$1,027.50 + 12% of the amount over $10,275
$41,775$89,075$4,807.50 + 22% of the amount over $41,775
$89,075$170,050$15,213.50 + 24% of the amount over $89,075
$170,050$215,950$34,647.50 + 32% of the amount over $170,050
$215,950$539,900$49,335.50 + 35% of the amount over $215,950
$539,900No limit$162,718 + 37% of the amount over $539,900
FILING STATUS:Head of Household
IF TAXABLE INCOME IS OVER:BUT NOT OVER:THE TAX IS:
$0$14,65010% of taxable income
$14,650$55,900$1,465 + 12% of the amount over $14,650
$55,900$89,050$6,415 + 22% of the amount over $55,900
$89,050$170,050$13,708 + 24% of the amount over $89,050
$170,050$215,950$33,148 + 32% of the amount over $170,050
$215,950$539,900$47,836 + 35% of the amount over $215,950
$539,900No limit$161,218.50 + 37% of the amount over $539,900
FILING STATUS:Married Filing Jointly
IF TAXABLE INCOME IS OVER:BUT NOT OVER:THE TAX IS:
$0$20,55010% of taxable income
$20,550$83,550$2,055 + 12% of the amount over $20,550
$83,550$178,150$9,615 + 22% of the amount over $83,550
$178,150$340,100$30,427 + 24% of the amount over $178,500
$340,100$431,900$69,295 + 32% of the amount over $340,100
$431,900$647,850$98,671 + 35% of the amount over $431,900
$647,850No limit$174,253.50 + 37% of the amount over $647,850
FILING STATUS:Married Filing Separately
IF TAXABLE INCOME IS OVER:BUT NOT OVER:THE TAX IS:
$0$9,70010% of taxable income
$9,700$39,475$970.00 + 12% of the amount over $9,700
$39,475$84,200$4,543.00 + 22% of the amount over $39,475
$84,200$160,725$14,382.50 + 24% of the amount over $84,200
$160,725$204,100$32,748.50 + 32% of the amount over $160,725
$204,100$306,175$46,628.50 + 35% of the amount over $204,100
$306,175No limit$82,354.75 + 37% of the amount over $306,175
Standard Mileage Rate
USERATE
BusinessFor January 1 through June 30 of this year, the rate is set at 58.5 cents per mile. The rate will then rise to 62.5 cents per mile for the period from July 1 through December 31.
Medical Care or Move18 cents
Charitable14 cents
2021 Tax Rates
Income Tax Rates
FILING STATUS:Single
IF TAXABLE INCOME IS OVER:BUT NOT OVER:THE TAX IS:
$0$9,95010% of taxable income
$9,950$40,525$995 + 12% of the amount over $9,950
$40,525$86,375$4,664 + 22% of the amount over $40,525
$86,375$164,925$14,751 + 24% of the amount over $86,375
$164,925$209,425$33,603 + 32% of the amount over $164,925
$209,425$523,600$47,843 + 35% of the amount over $209,425
$523,600No limit$157,804.25 + 37% of the amount over $523,600
FILING STATUS:Head of Household
IF TAXABLE INCOME IS OVER:BUT NOT OVER:THE TAX IS:
$0$14,20010% of taxable income
$14,200$54,200$1,420 + 12% of the amount over $14,200
$54,200$86,350$6,220 + 22% of the amount over $54,200
$86,350$164,900$13,293 + 24% of the amount over $86,350
$164,900$209,400$32,145 + 32% of the amount over $164,900
$209,400$523,600$46,385 + 35% of the amount over $209,400
$523,600No limit$156,355 + 37% of the amount over $523,600
FILING STATUS:Married Filing Jointly
IF TAXABLE INCOME IS OVER:BUT NOT OVER:THE TAX IS:
$0$19,90010% of taxable income
$19,900$81,050$1,990 + 12% of the amount over $19,900
$81,050$172,750$9,328 + 22% of the amount over $81,050
$172,750$329,850$29,502 + 24% of the amount over $172,750
$329,850$418,850$67,206 + 32% of the amount over $329,850
$418,850$628,300$95,686 + 35% of the amount over $418,850
$628,300No limit$168,993.50 + 37% of the amount over $628,300
FILING STATUS:Married Filing Separately
IF TAXABLE INCOME IS OVER:BUT NOT OVER:THE TAX IS:
$0$9,95010% of taxable income
$9,950$40,525$995 + 12% of the amount over $9,950
$40,525$86,375$4,664 + 22% of the amount over $40,525
$86,375$164,925$14,751 + 24% of the amount over $86,375
$164,925$209,425$33,603 + 32% of the amount over $164,925
$209,425$314,150$47,843 + 35% of the amount over $209,425
$314,150No limit$84,496.75 + 37% of the amount over $314,150
Standard Mileage Rate
USERATE
Business56 cents
Medical Care or Move16 cents
Charitable14 cents
2020 Tax Rates
Income Tax Rates
FILING STATUS:Single
IF TAXABLE INCOME IS OVER:BUT NOT OVER:THE TAX IS:
$0$9,87510% of taxable income
$9,875$40,125$987.50 + 12% of the amount over $9,875
$40,125$85,525$4,617.50 + 22% of the amount over $40,125
$85,525$163,300$14,605.50 + 24% of the amount over $85,525
$163,300$207,350$33,271.50 + 32% of the amount over $163,300
$207,350$518,400$47,367.50 + 35% of the amount over $207,350
$518,400No limit$156,235 + 37% of the amount over $518,400
FILING STATUS:Head of Household
IF TAXABLE INCOME IS OVER:BUT NOT OVER:THE TAX IS:
$0$14,10010% of taxable income
$14,100$53,700$1,410 + 12% of the amount over $14,100
$53,700$85,500$6,162 + 22% of the amount over $53,700
$85,500$163,300$13,158 + 24% of the amount over $85,500
$163,300$207,350$31,830 + 32% of the amount over $163,300
$207,350$518,400$45,926 + 35% of the amount over $207,350
$518,400No limit$154,793.50 + 37% of the amount over $518,400
FILING STATUS:Married Filing Jointly
IF TAXABLE INCOME IS OVER:BUT NOT OVER:THE TAX IS:
$0$19,75010% of taxable income
$19,750$80,250$1,975 + 12% of the amount over $19,750
$80,250$171,050$9,235 + 22% of the amount over $80,250
$171,050$326,600$29,211 + 24% of the amount over $171,050
$326,600$414,700$66,543 + 32% of the amount over $326,600
$414,700$622,050$94,735 + 35% of the amount over $414,700
$622,050No limit$167,307.50 + 37% of the amount over $622,050
FILING STATUS:Married Filing Separately
IF TAXABLE INCOME IS OVER:BUT NOT OVER:THE TAX IS:
$0$9,87510% of taxable income
$9,875$40,125$987.50 + 12% of the amount over $9,875
$40,125$85,525$4,617.50 + 22% of the amount over $40,125
$85,525$163,300$14,605.50 + 24% of the amount over $85,525
$163,300$207,350$33,271.50 + 32% of the amount over $163,300
$207,350$311,025$47,367.50 + 35% of the amount over $207,350
$311,025No limit$83,653.75 + 37% of the amount over $311,025
Standard Mileage Rate
USERATE
Business57.5 cents
Medical Care or Move17 cents
Charitable14 cents