Tax Year 2023 Federal Income Tax Brackets
| Tax Bracket | Tax Rate |
|---|---|
| $0.00+ | 10% |
| $11,600.00+ | 12% |
| $47,150.00+ | 22% |
| $100,525.00+ | 24% |
| $191,950.00+ | 32% |
| $243,725.00+ | 35% |
| $609,350.00+ | 37% |
| Tax Bracket | Tax Rate |
|---|---|
| $0.00+ | 10% |
| $11,600.00+ | 12% |
| $47,150.00+ | 22% |
| $100,525.00+ | 24% |
| $191,950.00+ | 32% |
| $243,725.00+ | 35% |
| $365,600.00+ | 37% |
| Tax Bracket | Tax Rate |
|---|---|
| $0.00+ | 10% |
| $23,200.00+ | 12% |
| $94,300.00+ | 22% |
| $201,050.00+ | 24% |
| $383,900.00+ | 32% |
| $487,450.00+ | 35% |
| $731,200.00+ | 37% |
| Tax Bracket | Tax Rate |
|---|---|
| $0.00+ | 10% |
| $16,550.00+ | 12% |
| $63,100.00+ | 22% |
| $100,501.00+ | 24% |
| $191,950.00+ | 32% |
| $243,700.00+ | 35% |
| $609,350.00+ | 37% |
Federal income tax brackets were last changed one year ago for tax year 2023, and the tax rates were previously changed in 2017. Federal tax brackets are indexed for inflation, and are updated yearly to reflect changes in cost of living.
The Federal Income Tax consists of seven marginal tax brackets, ranging from a low of 10% to a high of 39.6%. This page explains how these tax brackets work, and includes a Federal income tax calculator for estimating your tax liability.
Federal Income Tax Brackets Indexed for Inflation
With inflation at historical highs, the IRS has adjusted Federal tax brackets significantly to account for inflation. With typical inflation adjustments a mere 1-2%, the 2023 Federal income tax brackets have been adjusted for inflation by as much as 10.5%. This will result in lower Federal income taxes for those whose salaries haven't kept pace with inflation.
Types of Federal Tax Brackets
There are four complete sets of tax brackets for different filing types, each with different bracket widths. These bracket types allow taxpayers filing as Married Filing Jointly or Head of Household to pay less in taxes by widening (doubling, in the case of MFJ) each tax bracket's width.
- Single - The Single brackets, applicable to all single non-joint filers, have the narrowest bracket width and generally result in the highest individual income tax.
- Married Filing Jointly - The Married Filing Jointly tax brackets are applicable to all legally married couples filing their income tax on a joint return. The width of the first three tax brackets are doubled, and the highest four brackets are expanded (but not doubled) for joint filers. As a result, MFJ brackets are the most tax-advantagous.
- Head of Household - Head of Household is a special filing status reserved for single individuals who support one or more dependants by themselves. Head of Household tax brackets are wider than Single brackets, but not as wide as joint brackets.
- Married Filing Separately - MFS is a special filing type for individuals who are married, but choose to file separate income tax returns. Only used in rare situations, as you will usually wind up paying more income tax than if you filed jointly.
Some individuals may have to follow a special tax structure not listed here, such as the Alternative Minimum Tax (AMT) for certain high-income taxpayers.
When calculating your income tax, it's important to remember that the federal tax brackets apply to your gross adjusted income, after accounting for any tax deductions such as dependant exemptions, business expenses, and any other before-tax deductions.
If you qualify for any tax credits, such as the Earned Income Tax Credit or a Homebuyer's Tax Credit, you will deduct these credits from your total tax owed after calculating your marginal tax rates.
Recent Changes to the Federal Income Tax
In December 2017, congress passed a sweeping federal income tax overhaul that affects personal income tax rates from tax year 2018 onward. While this overhaul lowered rates, it also eliminated many popular tax breaks such as the Personal Exemption. New tax breaks for business owners, such as the Qualified Business Income Deduction were also introduced.
In tax year 2013, a new 39.6% tax bracket was added, currently applicable to income over $609,350.00 for single taxpayers. For tax years 2012 and earlier, the highest tax bracket was 35%. The new tax bracket was introduced by the American Taxpayer Relief Act of 2012, which among other things also prevented the expiration of the lowest 10% tax bracket, as well as the 25% - 33% brackets, which were set to expire that year.
How do Federal tax brackets work?
Technically, you don't have just one "tax bracket" - you pay all of the Federal marginal tax rates from the lowest tax bracket to the tax bracket in which you earned your last dollar. For comparison purposes, however, your Federal tax bracket is the tax bracket in which your last earned dollar in any given tax period falls.
You can think of the bracketed income tax as a flat amount for all of the money you earned up to your highest tax bracket, plus a marginal percentage of any amount you earned over that. The chart below breaks down the Federal tax brackets using this model:
| For earnings between $0.00 and $11,600.00, you'll pay 10% |
| For earnings between $11,600.00 and $47,150.00, you'll pay 12% plus $1,160.00 |
| For earnings between $47,150.00 and $100,525.00, you'll pay 22% plus $5,426.00 |
| For earnings between $100,525.00 and $191,950.00, you'll pay 24% plus $17,168.50 |
| For earnings between $191,950.00 and $243,725.00, you'll pay 32% plus $39,110.50 |
| For earnings between $243,725.00 and $609,350.00, you'll pay 35% plus $55,678.50 |
| For earnings over $609,350.00, you'll pay 37% plus $183,647.25 |
| For earnings between $0.00 and $11,600.00, you'll pay 10% |
| For earnings between $11,600.00 and $47,150.00, you'll pay 12% plus $1,160.00 |
| For earnings between $47,150.00 and $100,525.00, you'll pay 22% plus $5,426.00 |
| For earnings between $100,525.00 and $191,950.00, you'll pay 24% plus $17,168.50 |
| For earnings between $191,950.00 and $243,725.00, you'll pay 32% plus $39,110.50 |
| For earnings between $243,725.00 and $365,600.00, you'll pay 35% plus $55,678.50 |
| For earnings over $365,600.00, you'll pay 37% plus $98,334.75 |
| For earnings between $0.00 and $23,200.00, you'll pay 10% |
| For earnings between $23,200.00 and $94,300.00, you'll pay 12% plus $2,320.00 |
| For earnings between $94,300.00 and $201,050.00, you'll pay 22% plus $10,852.00 |
| For earnings between $201,050.00 and $383,900.00, you'll pay 24% plus $34,337.00 |
| For earnings between $383,900.00 and $487,450.00, you'll pay 32% plus $78,221.00 |
| For earnings between $487,450.00 and $731,200.00, you'll pay 35% plus $111,357.00 |
| For earnings over $731,200.00, you'll pay 37% plus $196,669.50 |
| For earnings between $0.00 and $16,550.00, you'll pay 10% |
| For earnings between $16,550.00 and $63,100.00, you'll pay 12% plus $1,655.00 |
| For earnings between $63,100.00 and $100,501.00, you'll pay 22% plus $7,241.00 |
| For earnings between $100,501.00 and $191,950.00, you'll pay 24% plus $15,469.22 |
| For earnings between $191,950.00 and $243,700.00, you'll pay 32% plus $37,416.98 |
| For earnings between $243,700.00 and $609,350.00, you'll pay 35% plus $53,976.98 |
| For earnings over $609,350.00, you'll pay 37% plus $181,954.48 |
Federal Income Tax Calculator
Federal Income Tax Estimator
You can use the income tax estimator to the left to calculate your approximate Federal and Federal income tax based on the most recent tax brackets.
Keep in mind that this estimator assumes all income is from wages, assumes the standard deduction, and does not account for tax credits.
For a more detailed estimate that takes these factors into account, click "View Detailed Estimate" (this will will redirect to an external website).
Federal Tax Deductions
When calculating your Federal income tax, keep in mind that the Federal state income tax brackets are only applied to your adjusted gross income (AGI) after you have made any qualifying deductions.
Qualifying deductions might include an itemized deduction, the Federal standard deduction, exemptions for dependants, business expenses, etc.
Remember that your state may have very different deduction laws from the Federal Income Tax, so you may have to write a whole new list of deductions for your state income tax return.
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income tax forms are available as PDFsFederal Standard Deductions & Personal Exemption Amounts
In addition to marginal tax brackets, one of the major features of the Federal income tax is deductions. The three most common deductions encountered by taxpayers are the Federal Standard Deduction, the Federal Personal Exemption, and the Federal Dependent Deduction. The current values of these deductions for tax year 2024 are as follows:
| Standard Deduction (Single) | Standard Deduction (MFJ) | Personal Exemption | Dependant Exemption |
|---|---|---|---|
| $14,600.00 | $29,200.00 | $0.00 | $0.00 |
The standard deduction, which Federal has, is a deduction that is available by default to all taxpayers who do not instead choose to file an itemized deduction. Essentially, it translates to $14,600.00 per year of tax-free income for single Federal taxpayers, and $29,200.00 for those filing jointly.
The Personal Exemption, which is not supported by the Federal income tax, is an additional deduction you can take if you (and not someone else) are primarily responsible for your own living expenses. Likewise, you can take an additional dependent exemption for each qualifying dependent (like a child or family member), who you financially support.
Why Do Tax Brackets Exist?The IRS introduced a bracketed income tax system in 1913 with the goal of creating a flexible income tax capable of generating revenue from the government while not overtaxing individuals who could not afford to pay.
The six-bracket system was designed to allow lower-income individuals to pay a lower overall percentage of tax on their total income than wealthy individuals, while maintaining equity by ensuring that everyone paid the same marginal income tax on each bracket regardless of what bracket they "belong in".
In addition to flexible brackets, dependant deductions and credits like the Earned Income Tax Credit (EITC) were introduced to ensure that the lowest-income families would not be overtaxed. As a result, almost 46% of Americans owe no income tax today after accounting for all of their deductions and tax credits.
Which States Collect Income Tax?Fourty-four of the fifty states collect a state income tax, all of which are lower than the Federal Income Tax. The highest marginal tax bracket in any state is just over 10%, comparable to the lowest tax bracket in the Federal Income Tax.
While most states use a bracketed system similar to the Federal Income Tax, some use a flat income tax which collects a single, low percentage of all income from the first dollar to the last. For a listing of all of the state income tax brackets, visit the state income tax tables page.
Sources & Citations
Disclaimer: While we do our best to keep this list of Federal income tax rates up to date and complete, we cannot be held liable for errors or omissions. Is info on this page missing or out-of-date? Please let us know so we can fix it!
The Federal tax brackets on this page have been updated for tax year 2024, and are the latest brackets available. States often adjust their tax brackets on a yearly basis, so make sure to check back later for Federal updated tax year 2025 tax brackets!
Tax Data Sources:
- The Federal tax brackets on this page were last updated from the Federal Internal Revenue Service in 2024. Please contact us if any of our Federal tax data is incorrect or out of date.
- Federal tax return forms are available on the Federal tax forms page or the Federal Department of Revenue.
- Before the official 2024 Federal income tax brackets are released, the brackets used on this page are an estimate based on the previous year's brackets. These numbers are subject to change if new Federal tax tables are released.
- The Federal income tax estimator tool is provided by Tax-Rates.org
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