Tax Brackets and Rates Overview
What are federal income tax brackets and rates? Find your answers here:
You can calculate your personal tax rates and brackets by Tax Year to plan your return. The tax return due date comes around every April; use the RATEucator to understand your taxes before eFileIT by Tax Day. Below are the tax rates and brackets for the current year and previous tax years or back taxes. Keep up with other tax changes as they occur each year.
A brief overview of tax brackets and income tax rates
Calculate ALL state income taxes by tax rate, income, filing status, etc. We at eFile.com have been hard at work developing a tax calculator for all states with income taxes. Select your state from the table and enter your filing status, number of dependents, and annual taxable income; you can also enter federal and state deductions for more accurate results. Know what your state taxes may look like before you eFileIT! Did you know that only on eFile.com can you prepare multiple state returns for one low price, not per price? Start free and pay only when you are satisfied with your return; IT's that simple.
Calculate your IRS tax rate | Calculate your state tax rate
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Marginal or Effective Income Tax Rate
When someone asks what tax bracket you fall into, they generally want to know your "marginal tax rate." This is the tax bracket your last dollar of income falls into and, therefore, the highest tax rate you pay.
For instance, if your marginal tax rate is 25%, that doesn't mean that ALL of your income is taxed at 25%. Income is taxed at different rates; here's how it works:
In one example, if your 2022 income is $40,000 and your filing status is single, your first $10,275 will be taxed at 10%. Every dollar from $10,276 to $41,775 will be taxed at $1,027 (10% of $10,275) plus 12% within the bracket (in this case, around $3,800). This pattern continues as your income grows, adding the taxable amount within each bracket to the next highest threshold. Remember that your standard deduction will be deducted automatically from your taxable income.
If you add the taxes you pay on each portion of your income, divide it by your total income, and multiply by 100, you would get your "effective tax rate." This is the actual rate you pay on your taxes, regardless of your marginal tax rate. Our tax rate calculator does this for you.
Did you know? The highest tax rate for United States federal taxes is 37% which applies to the top income earners, while the lowest IRS tax rate is 10% - see the details below. View the states with the highest and lowest tax rates plus the most tax-friendly states to retire in.
2022 Tax Brackets,
Personal Rates
2022 Taxpayer Case Study for Tax Rate and Bracket Calculation
Take a look at this case study as it demonstrates how IRS taxes are calculated by income tax bracket. For more state-related tax rate information, select your state(s). Your income is taxed at a fixed rate for all income within certain brackets. As your income exceeds a bracket, the next portion is taxed at the next bracket, and so on.
Taxpayer Name: Elizabeth Filing Status: Single Annual Income: $60,000 | Taxable Income: $47,050
IRS Taxes Due: $5968.00 Effective Tax Rate: 12.68%
$1,027.50
$0 - $10,275
$10,275 / 10%
$3,780.00
$10,276 - $41,775
$31,500 / 12%
$1,160.50
$41,776 - $89,075
$5,275 / 22%
Total taxes calculated over three income tax brackets
and tax rates resulting in an Effective Tax Rate
$5,968.00
Three Tax Brackets
$60,000 / 12.68%
When you prepare your tax return online with eFile.com, we apply the correct tax rates and do all the math for you while guaranteeing 100% accuracy based on your entries. See more benefits of using eFile.com. For a more detailed estimate of your taxes, use our free 2022 Tax Refund estimator or calculator.
See the tax rate schedules listed below by tax year. Find your tax return filing status and compare your income to the amounts listed to find your marginal tax rate.
Related: How much money do you have to make to not pay taxes?
Below are income tax bracket and rate tables links by tax year. You can calculate your personal income tax rates with the eFile.com RATEucator by tax year.
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