2022 Earnings Tax Brackets and Commonplace Deduction


The IRS on Wednesday launched federal marginal tax charges and earnings brackets for 2022. Seven tax charges stay unchanged, whereas earnings limits have been adjusted for inflation.

2022 tax brackets have an effect on taxes to be filed in 2023. These are the 2021 brackets.

Listed here are the brand new brackets for 2022, based mostly in your earnings and submitting standing.

For married individuals submitting collectively:

  • 10%: $20,550. taxable earnings as much as
  • 12%: $20,550 to $83,550 . taxable earnings between
  • 22%: $83,550 to $178,150 . taxable earnings between
  • 24%: Taxable earnings between $178,150 to $340,100
  • 32%: $340,100 to $431,900 . taxable earnings between
  • 35%: Taxable earnings between $431,900 to $647,850
  • 37%: $647,850 . taxable earnings in extra of

For Particular person Single Taxpayers:

  • 10%: $10,275 . taxable earnings as much as
  • 12%: Taxable earnings between $10,275 to $41,775
  • 22%: Taxable earnings between $41,775 to $89,075
  • 24%: taxable earnings between $89,075 to $170,050
  • 32% Taxable earnings between $170,050 to $215,950
  • 35%: $215,950 to $539,900 . taxable earnings between
  • 37%: $539,900 . taxable earnings in extra of

These are the charges and earnings brackets for federal taxes. Your state might have totally different brackets, no taxes, or a uniform charge.

After taking the usual deduction (or itemized deduction) and different tax breaks, the above charges apply to taxable earnings. The IRS additionally introduced that the usual deduction for 2022 has been elevated to:

  • married couple submitting collectively: $25,900
  • Single taxpayer and married particular person submitting individually: $12,950
  • head of family: $19,400 for tax yr 2022

And the company not too long ago introduced modifications to retirement plan contributions for 2022.

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Do not miss: These are your 2022 401(ok) and IRA contribution limits.



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