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2020 and 2021 Tax Brackets

Last updated 25th Apr 2022
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Last Updated: Thursday, 29 October 2020

This article contains the latest information on federal income tax brackets for the years 2020 and 2021. Also known as tax tables or rate schedules, this information can be used to figure out the incremental federal taxes owed on each additional dollar of income.

For example, individuals in the 24% tax bracket owe $0.24 in federal income taxes for each dollar of incremental income. Later in this article, we'll provide an example demonstrating how these tables are used.

Income Tax Rates in 2020 and 2021

For the years 2003 through 2012, there were a total of six federal income tax brackets. The American Taxpayer Relief Act of 2012 added a seventh bracket (39.6%) in 2013. The remaining six rates were unchanged at 10%, 15%, 25%, 28%, 33% and 35%. Starting in 2018, there remains seven tax brackets, with the new values of 10%, 12%, 22%, 24%, 32%, 35% and 37%. As the tables below demonstrate, income taxes in the United States are progressive; as income increases, the rate of tax increases too.

We offer an income tax calculator that can be used to estimate taxes owed for the years 2017 through 2021. To calculate the actual tax due, it's necessary to use the appropriate 1040 tax form.

2021 Income Tax Rates

The tables that follow provide the 2021 income tax brackets.

Unmarried Individuals - Rate Schedule X (2021)

Taxable income is over -But not over -The tax is:Of the amount over -
$0$9,950$0 + 10%$0
9,95040,525995.00 + 12%9,950
40,52586,3754,664.00 + 22%40,525
86,375164,92514,751.00 + 24%86,375
164,925209,42533,603.00 + 32%164,925
209,425523,60047,843.00 + 35%209,425
523,600-157,804.00 + 37%523,600

Married Filing Jointly or Surviving Spouses - Rate Schedule Y-1 (2021)

Taxable income is over -But not over -The tax is:Of the amount over -
$0$19,900$0 + 10%$0
19,90081,0501,990.00 + 12%19,900
81,050172,7509,328.00 + 22%81,050
172,750329,85029,502.00 + 24%172,750
329,850418,85067,206.00 + 32%329,850
418,850628,30095,686.00 + 35%418,850
628,300 -168,993.50+ 37%628,300

Married Filing Separately - Rate Schedule Y-2 (2021)

Taxable income is over -But not over -The tax is:Of the amount over -
$0$9,950$0 + 10%$0
9,95040,525995.00 + 12%9,950
40,52586,3754,664.00 + 22%40,525
86,375164,92514,751.00 + 24%86,375
164,925209,42533,603.00 + 32%164,925
209,425314,15047,843.00 + 35%209,425
314,150 -84,496.75 + 37%314,150

Head of Household - Rate Schedule Z (2021)

Taxable income is over -But not over -The tax is:Of the amount over -
$0$14,200$0 + 10%$0
14,20054,2001,420.00 + 12%14,200
54,20086,3506,220.00 + 22%54,200
86,350164,90013,293.00 + 24%86,350
164,900209,40032,145.00 + 32%164,900
209,400523,60046,385.00 + 35%209,400
523,600-156,355.00 + 37%523,600

2020 Income Tax Rates

The tables that follow provide the 2020 income tax brackets.

Unmarried Individuals - Rate Schedule X (2020)

Taxable income is over -But not over -The tax is:Of the amount over -
$0$9,875$0 + 10%$0
9,87540,125987.50 + 12%9,875
40,12585,5254,617.50 + 22%40,125
85,525163,30014,605.50 + 24%85,525
163,300207,35033,271.50 + 32%163,300
207,350518,40047,367.50 + 35%207,350
518,400-156,235.00 + 37%518,400

Married Filing Jointly or Surviving Spouses - Rate Schedule Y-1 (2020)

Taxable income is over -But not over -The tax is:Of the amount over -
$0$19,750$0 + 10%$0
19,75080,2051,975.00 + 12%19,750
80,205171,0509,235.00 + 22%80,250
171,050326,60029,211.00 + 24%171,050
326,600414,70066,543.00 + 32%326,600
414,700622,05094,735.00 + 35%414,700
622,050 -167,307.50 + 37%622,050

Married Filing Separately - Rate Schedule Y-2 (2020)

Taxable income is over -But not over -The tax is:Of the amount over -
$0$9,875$0 + 10%$0
9,87540,125987.50 + 12%9,875
40,12585,5254,605.50 + 22%40,125
85,525163,30014,605.50 + 24%85,525
163,300207,35033,271.50 + 32%163,300
207,350311,02547,367.50 + 35%207,350
311,025 -83,653.75 + 37%311,025

Head of Household - Rate Schedule Z (2020)

Taxable income is over -But not over -The tax is:Of the amount over -
$0$14,100$0 + 10%$0
14,10053,7001,410.00 + 12%14,100
53,70085,5006,162.00 + 22%53,700
85,500163,30013,158.00 + 24%85,500
163,300207,30031,830.00 + 32%163,300
207,350518,40045,926.00 + 35%207,350
518,400-154,793.50 + 37%518,400

Example Calculation of Taxes Owed

Finally, we are going to provide an example demonstrating how to use these tax rate schedules to calculate federal income taxes owed. In this example, let's assume the individual's tax filing status is Unmarried, and taxable income is $100,000 in 2021.

Looking at the above tables we see that $100,000 for Unmarried Individuals means it's necessary to use Rate Schedule X. This individual falls into the 24% tax bracket because $100,000 is between $86,375 and $164,925. Using the 24% row in the above table, it's possible to calculate the federal income taxes owed as follows:

  • $14,751.00 + 24% x ($100,000 - $86,375)
  • $14,751.00 + 0.24 x $13,625
  • $14,751.00 + $3,270.00 = $18,021.00

In this example, a Single filer with $100,000 of taxable income in 2021 would owe $18,021.00 in federal income taxes.


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Moneyzine Editor