Tax season can be stressfull and tedious time for most of people that file taxes in the United States. The 2023 income tax brackets are below, showing exmaples of each bracket.
Single Filers
| Tax Rate Single Filers | Start | Up to |
|---|---|---|
| 10% | $0 | $11,000 |
| 12% | $11,001 | $44,725 |
| 22% | $44,726 | $95,375 |
| 24% | $95,376 | $182,100 |
| 32% | $182,101 | $231,250 |
| 35% | $231,251 | $578,125 |
| 37% | $578,126 | up |
The example belows shows if income of $100,000 for a single person.
$0 up to $11,000 taxed at 10%.
$11,001 up to $44,725 taxed at 12%
$44,726 up to $95,375 taxed at 22%.
$95,376 up to $100,000 taxed at 24%.
Married Filing Separately
| Tax Rate | Start | Up to |
|---|---|---|
| 10% | $0 | $11,000 |
| 12% | $11,001 | $44,725 |
| 22% | $44,726 | $95,375 |
| 24% | $95,376 | $182,100 |
| 32% | $182,101 | $231,250 |
| 35% | $231,251 | $346,875 |
| 37% | $346,876 | up |
The example belows shows if income of $100,000 for married people filing separately.
$0 up to $11,000 taxed at 10%.
$11,001 up to $44,725 taxed at 12%
$44,726 up to $95,375 taxed at 22%.
$95,376 up to $100,000 taxed at 24%.
Married Joint or Qualifying Surving Spouse Tax Bracket
| Tax Rate | Start | Up to |
|---|---|---|
| 10% | $0 | $22,000 |
| 12% | $22,001 | $89,450 |
| 22% | $89,451 | $190,750 |
| 24% | $190,751 | $364,200 |
| 32% | $364,201 | $462,500 |
| 35% | $462,501 | $693,750 |
| 37% | $693,751 | up |
The example belows shows if income of $120,000 for married people filing jointly or a qualified surving spouse.
$0 up to $22,000 taxed at 10%.
$22,001 up to $89,450 taxed at 12%
$89,451 up to $120,000 taxed at 22%.
Head of Household Tax Bracket
| Tax Rate | Start | Up to |
|---|---|---|
| 10% | $0 | $15,700 |
| 12% | $15,701 | $59,850 |
| 22% | $59,851 | $95,350 |
| 24% | $95,351 | $182,100 |
| 32% | $182,101 | $231,250 |
| 35% | $231,251 | $578,100 |
| 37% | $578,101 | up |
The example belows shows if income of $120,000 for head of household.
$0 up to $15,700 taxed at 10%.
$15,701 up to $59,850 taxed at 12%
$59,851 up to $95,350 taxed at 22%.
$95,351 up to $120,000 taxed at 24%.
All of the examples help show how income tax brackets work for each different filling option. Please contact a tax professional to know how this works. The tax brackets can change yearly and using the tax brackets can be used to estimate how much one might owe to the federal government. This example only accounts for federal tax on income (Federal income tax rates and brackets | Internal Revenue Service (irs.gov)).
Intuit TurboTax has a tax bracket estimator for federal tax. The calculator takes the estimated income and your filing status, (Single, Married filing jointly, Married filing separately, Head of household, Qualifying surviving spouse). Tax Bracket Calculator – 2023-2024 Tax Brackets | TurboTax® Official (intuit.com)
Wondering when to file read: When is Tax Season in 2024?