So far, there are seven federal tax brackets for the tax year, there are 10%, 12%, 22%, 24%, 32%, 35% and 37%. Which bracket you are in depends on your taxable income and marital status. Tax season starts in January, and these are stressful months for most.
April 18, 2022, is tax day, and many taxpayers are still working on their 2021 returns. But the smart ones have already started 2022 tax planning.
Tax brackets for single and married filing jointly
Although the tax rates have the same percentages as last year, the value is adjusted because inflation must be considered. This indicates that the bracket you are in this year may be different than last year. For a more realistic view, the 2022 rates could look like this:
The percentages for married couples reporting separately and heads of household also vary.
| Tax rate | Taxable Income
(Single) |
Taxable income
(married filing jointly) |
| 10% | Up to $10,275 | Up to $20,550 |
| 12% | $ 10,276 – $ 41,775 | $ 20,551 – $ 83,550 |
| 22% | $ 41,776 – $ 89,075 | $ 83,551 – $ 178,150 |
| 24% | $ 89,076 – $ 170,050 | $ 178,151 – $ 340,100 |
| 32% | $ 170,051 – $ 215,950 | $ 340,101 – $ 431,900 |
| 35% | $ 215,951 – $ 539,900 | $431,901 – $647,850 |
| 37% | More than $ 539,900 | More than $ 647,850 |
| Tax rate | Taxable Income
(Married filing a separate return) |
Taxable Income
(Head of Household) |
| 10% | Up to $10,275 | Up to $14,650 |
| 12% | $ 10,276 – $ 41,775 | $ 14,651 – $ 55,900 |
| 22% | $ 41,776 – $ 89,075 | $ 55,901 – $ 89,050 |
| 24% | $ 89,076 – $ 170,050 | $89,051 – $170,050 |
| 32% | $ 170,051 – $ 215,950 | $ 170,051 – $ 215,950 |
| 35% | $ 215,951 – $ 323,925 | $ 215,951 – $ 539,900 |
| 37% | More than $332,925 | More than $ 539,900 |
How the tax brackets work?
Assuming you are single and in the tax year you had $90,000 of taxable income, you are in the 24% single rate bracket. However, it does not mean that this will be the rate for you.
The taxes for you are less than the amount shown in the table because when using the marginal tax rates, only a portion of the income is taxed at the 24% rate, and the rest is taxed at speeds of 10, 12, and 22%.
We mean that, even though you are in a category according to your income, it does not indicate what rate you will pay for your federal income taxes. In reality, the progressive tax system is intended so that people with higher incomes have higher national income tax rates.
The government determines how much tax you will pay by dividing the income you earned into different parts of the above percentages. Even if you are in the 37% bracket, you will not pay that on your total income.
The standard deduction and personal exemption
For 2022 the standard deduction increases by $400 for single taxpayers and $800 for joint taxpayers. However, the personal exemption for the current year remains at $0.
The exemption has been maintained since its elimination by the Jobs and Tax Cuts Act of 2017. Thus, the amount of the deduction for different taxpayers would remain as follows:
| Marital status | Amount of deduction |
| Only | $12,950 |
| Married filing a joint return | $25,900 |
| Head of household | $19,400 |