What are the tax bracket breakdowns for income?

Here is a look at what the brackets and tax rates are for 2020 (filing 2021):

Tax rate Single filers Married filing jointly*
10% $0 – $9,875 $0 – $19,750
12% $9,875 – $40,125 $19,751 – $80,250
22% $40,126 – $85,525 $80,251 – $171,050
24% $85,526 – $163,300 $171,051 – $326,600

Apr 27, 2021

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