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Tag: tax brackets

new tax bracket

The IRS Issues New Tax Brackets For 2021

Annually the IRS issues tax brackets that adjust for inflation.  These tax rates for 2021 and will be in effect for taxes that you file in 2022.  This will have seven brackets: Marginal RatesSingleMarried filing Jointly10%Under $9,950Under $19,90012%Over $9,950Over $19,90022%$40,525$81,05024%$86,375$172,75032%$164,925$329,85035%$209,425$418,85037%$523,600$628,300Source IRS Standard Deductions Increased To give it an inflation boost, standard deductions are increased. Standard deduction…

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