The US tax system is progressive, meaning that the more you earn the more you pay. For the years 2020-2022 there are seven different brackets for each year. Which bracket you are in depends on your taxable income; however, your bracket does not equal your tax rate.
Tax brackets work so that you pay part of your income at each level bracket as you move-up in income. In other words, someone in the 24% marginal rate bracket will pay 10% on part of their income, 12% on another part, 22% on yet another and finally 24% on everything else. In other words, moving into a higher tax bracket does NOT mean you pay higher taxes on all your income.
Below we will present comparative tables, so you change see the changes across the years, but before we do let’s look at how the rates and brackets have changes over the periods.
Evolution of Tax Rates and Brackets
The tax rates over the period are the same. There are seven brackets with progressive rates ranging from 10% up to 37% and they are the same over all three years.
Federal income tax rate brackets are indexed for inflation. The brackets are adjusted using the chained Consumer Price Index (CPI). There were no structural changes to the tax brackets in any of the periods, so the only impact are increases year-over-year due to the inflation indexing.
The inflation adjustment factor for 2022 was 3.1% for example. This caused the 22% rate bracket for single filer to increase from $81,051 up to $83,551.
Tax Rates and Brackets
Below are the 2020-2022 tables for personal income tax rates. Note, that the 2020 figures below are the amounts applicable to the income earned during 2020 and paid in 2021 when you file your taxes.
Tax Brackets & Rates
Single Taxpayers
2020
2021
2022
10%
0 – $9,875
10%
0 – $9,950
10%
0 – $10,275
12%
$9,875 – $40,125
12%
$9,951 – $40,525
12%
$10,276 – $41,775
22%
$40,126 – $85,525
22%
$40,526 – $86,375
22%
$41,776 – $89,075
24%
$85,526 – $163,300
24%
$86,376 – $164,925
24%
$89,076 – $170,050
32%
$163,301 – $207,350
32%
$164,926 – $209,425
32%
$170,051 – $215,950
35%
$207,351 – $518,400
35%
$209,426 – $523,600
35%
$215,951 – $539,900
37%
$518,401 and Over
37%
$523,601and Over
37%
$539,901 and Over
Married Filing Jointly and Surviving Spouses
2020
2021
2022
10%
0 – $19,750
10%
0 – $19,900
10%
0 – $20,550
12%
$19,751 – $80,250
12%
$19,901 – $81,050
12%
$20,551 – $83,550
22%
$80,251 – $171,050
22%
$81,051 – $172,750
22%
$83,551 – $178,150
24%
$171,051 – $326,600
24%
$172,751 – $329,850
24%
$178,151 – $340,100
32%
$326,601 – $414,700
32%
$329,851 – $418,850
32%
$340,101 – $431,900
35%
$414,701 – $622,050
35%
$418,851 – $628,300
35%
$431,901 – $647,850
37%
$622,051 and Over
37%
$628,301and Over
37%
$647,851 and Over
Married Filing Separately
2020
2021
2022
10%
0 – $9,875
10%
0 – $9,950
10%
0 – $10,275
12%
$9,875 – $40,125
12%
$9,951 – $40,525
12%
$10,276 – $41,775
22%
$40,126 – $85,525
22%
$40,526 – $86,375
22%
$41,776 – $89,075
24%
$85,526 – $163,300
24%
$86,376 – $164,925
24%
$89,076 – $170,050
32%
$163,301 – $207,350
32%
$164,926 – $209,425
32%
$170,051 – $215,950
35%
$207,351 – $311,025
35%
$209,426 – $314,150
35%
$215,951 – $323,925
37%
$311,026 and Over
37%
$314,151and Over
37%
$323,926 and Over
Heads of Housholds
2020
2021
2022
10%
0 – $14,100
10%
0 – $14,200
10%
0 – $14,650
12%
$14,101 – $53,700
12%
$14,201 – $54,200
12%
$14,651 – $55,900
22%
$53,701 – $85,500
22%
$54,201 – $86,350
22%
$55,901 – $89,050
24%
$85,501 – $163,300
24%
$86,351 – $164,900
24%
$89,051 – $170,050
32%
$163,301 – $207,350
32%
$164,901 – $209,400
32%
$170,051 – $215,950
35%
$207,351 – $518,400
35%
$209,401 – $523,600
35%
$215,951 – $539,900
37%
$518,401 and Over
37%
$523,601and Over
37%
$539,901 and Over
Conclusion
There are no dramatic changes in the rates or brackets for the years 2020-2022, nor are there structural changes currently expected from congressional action.
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2020 Vs 2021 Vs 2022 Federal Income Tax Brackets
September 1, 2022 · Blog, Guest Article of the Month, Uncategorized
⏱ 3 min read
The US tax system is progressive, meaning that the more you earn the more you pay. For the years 2020-2022 there are seven different brackets for each year. Which bracket you are in depends on your taxable income; however, your bracket does not equal your tax rate.
Tax brackets work so that you pay part of your income at each level bracket as you move-up in income. In other words, someone in the 24% marginal rate bracket will pay 10% on part of their income, 12% on another part, 22% on yet another and finally 24% on everything else. In other words, moving into a higher tax bracket does NOT mean you pay higher taxes on all your income.
Below we will present comparative tables, so you change see the changes across the years, but before we do let’s look at how the rates and brackets have changes over the periods.
Evolution of Tax Rates and Brackets
The tax rates over the period are the same. There are seven brackets with progressive rates ranging from 10% up to 37% and they are the same over all three years.
Federal income tax rate brackets are indexed for inflation. The brackets are adjusted using the chained Consumer Price Index (CPI). There were no structural changes to the tax brackets in any of the periods, so the only impact are increases year-over-year due to the inflation indexing.
The inflation adjustment factor for 2022 was 3.1% for example. This caused the 22% rate bracket for single filer to increase from $81,051 up to $83,551.
Tax Rates and Brackets
Below are the 2020-2022 tables for personal income tax rates. Note, that the 2020 figures below are the amounts applicable to the income earned during 2020 and paid in 2021 when you file your taxes.
Tax Brackets & Rates
Single Taxpayers
2020
2021
2022
10%
0 – $9,875
10%
0 – $9,950
10%
0 – $10,275
12%
$9,875 – $40,125
12%
$9,951 – $40,525
12%
$10,276 – $41,775
22%
$40,126 – $85,525
22%
$40,526 – $86,375
22%
$41,776 – $89,075
24%
$85,526 – $163,300
24%
$86,376 – $164,925
24%
$89,076 – $170,050
32%
$163,301 – $207,350
32%
$164,926 – $209,425
32%
$170,051 – $215,950
35%
$207,351 – $518,400
35%
$209,426 – $523,600
35%
$215,951 – $539,900
37%
$518,401 and Over
37%
$523,601and Over
37%
$539,901 and Over
Married Filing Jointly and Surviving Spouses
2020
2021
2022
10%
0 – $19,750
10%
0 – $19,900
10%
0 – $20,550
12%
$19,751 – $80,250
12%
$19,901 – $81,050
12%
$20,551 – $83,550
22%
$80,251 – $171,050
22%
$81,051 – $172,750
22%
$83,551 – $178,150
24%
$171,051 – $326,600
24%
$172,751 – $329,850
24%
$178,151 – $340,100
32%
$326,601 – $414,700
32%
$329,851 – $418,850
32%
$340,101 – $431,900
35%
$414,701 – $622,050
35%
$418,851 – $628,300
35%
$431,901 – $647,850
37%
$622,051 and Over
37%
$628,301and Over
37%
$647,851 and Over
Married Filing Separately
2020
2021
2022
10%
0 – $9,875
10%
0 – $9,950
10%
0 – $10,275
12%
$9,875 – $40,125
12%
$9,951 – $40,525
12%
$10,276 – $41,775
22%
$40,126 – $85,525
22%
$40,526 – $86,375
22%
$41,776 – $89,075
24%
$85,526 – $163,300
24%
$86,376 – $164,925
24%
$89,076 – $170,050
32%
$163,301 – $207,350
32%
$164,926 – $209,425
32%
$170,051 – $215,950
35%
$207,351 – $311,025
35%
$209,426 – $314,150
35%
$215,951 – $323,925
37%
$311,026 and Over
37%
$314,151and Over
37%
$323,926 and Over
Heads of Housholds
2020
2021
2022
10%
0 – $14,100
10%
0 – $14,200
10%
0 – $14,650
12%
$14,101 – $53,700
12%
$14,201 – $54,200
12%
$14,651 – $55,900
22%
$53,701 – $85,500
22%
$54,201 – $86,350
22%
$55,901 – $89,050
24%
$85,501 – $163,300
24%
$86,351 – $164,900
24%
$89,051 – $170,050
32%
$163,301 – $207,350
32%
$164,901 – $209,400
32%
$170,051 – $215,950
35%
$207,351 – $518,400
35%
$209,401 – $523,600
35%
$215,951 – $539,900
37%
$518,401 and Over
37%
$523,601and Over
37%
$539,901 and Over
Conclusion
There are no dramatic changes in the rates or brackets for the years 2020-2022, nor are there structural changes currently expected from congressional action.
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Disclaimer
These articles provide general information on tax, accounting, and financial topics for small businesses and individuals. They are educational in nature and are not specific legal, accounting, financial, tax, or other professional advice, and should not be relied upon as such. This content was prepared by Service2Client and may have been reviewed or edited by the website owner for accuracy and compliance. Look for a trust mark below for verification details. No representation is made that any approach described will achieve a particular result, and no regulatory or professional body has reviewed or endorsed this content. Because each situation is different, readers should consult a qualified professional about their specific circumstances before acting. Images accompanying these articles are protected by copyright and may not be copied or reused.
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The US tax system is progressive, meaning that the more you earn the more you pay. For the years 2020-2022 there are seven different brackets for each year. Which bracket you are in depends on your taxable income; however, your bracket does not equal your tax rate.
