In tax year 2020, for example, a single person with taxable income up to $9,875 paid 10 percent, while in 2022, that income bracket rose to $10,275. The IRS changes these tax brackets from year to year to account for inflation and other changes in economy. The top tax rate for individuals is 37 percent for taxable income above $539,901 for tax year 2022.
For Exampleįor example, a single taxpayer will pay 10 percent on taxable income up to $10,275 earned in 2022. Graduated means you pay different percentage of you income in taxes when you reach a certain income. In the US income tax system, income tax rates are graduated. 3 Learn More How the US Tax Brackets work?.1.4 2022 Federal Tax Brackets for Head of Household Tax Payers.1.3 2022 Federal Tax Brackets for Married Filing Separately Tax Payers.1.2 2022 Federal Tax Brackets for Married Filing Jointly Tax Payers.1.1 2022 Federal Tax Brackets for Single Tax Payers.
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