Federal Income Tax Brackets and Rates
Tax Year 2022
| Tax Rate | For Single Filers | For Married Individuals Filing Joint Returns | For Heads of Households |
|---|---|---|---|
| 10% | $0 to $10,275 | $0 to $20,550 | $0 to $14,650 |
| 12% | $10,275 to $41,775 | $20,550 to $83,550 | $14,650 to $55,900 |
| 22% | $41,775 to $89,075 | $83,550 to $178,150 | $55,900 to $89,050 |
| 24% | $89,075 to $170,050 | $178,150 to $340,100 | $89,050 to $170,050 |
| 32% | $170,050 to $215,950 | $340,100 to $431,900 | $170,050 to $215,950 |
| 35% | $215,950 to $539,900 | $431,900 to $647,850 | $215,950 to $539,900 |
| 37% | $539,900 or more | $647,850 or more | $539,900 or more |
Source: Internal Revenue Service | |||
| Filing Status | Deduction Amount |
|---|---|
| Single | $12,950 |
| Married Filing Jointly | $25,900 |
| Head of Household | $19,400 |
Source: Internal Revenue Source | |
| Filing Status | Exemption Amount |
|---|---|
| Unmarried Individuals | $75,900 |
| Married Filing Jointly | $118,100 |
Source: Internal Revenue Source | |
| Filing Status | Threshold |
|---|---|
| Unmarried Individuals | $539,900 |
| Married Filing Jointly | $1,079,800 |
Source: Internal Revenue Source | |
| Filing Status | No Children | One Child | Two Children | Three or More Children | |
|---|---|---|---|---|---|
| Single or Head of Household | Income at Max Credit | $7,320 | $10,980 | $15,410 | $15,410 |
| Maximum Credit | $560 | $3,733 | $6,164 | $6,935 | |
| Phaseout Begins | $9,160 | $20,130 | $20,130 | $20,130 | |
| Phaseout Ends (Credit Equals Zero) | $16,480 | $43,492 | $49,399 | $53,057 | |
| Married Filing Jointly | Income at Max Credit | $7,320 | $10,980 | $15,410 | $15,410 |
| Maximum Credit | $560 | $3,733 | $6,164 | $6,935 | |
| Phaseout Begins | $15,920 | $26,260 | $26,260 | $26,260 | |
| Phaseout Ends (Credit Equals Zero) | $22,610 | $49,622 | $55,529 | $59,187 | |
Source: Internal Revenue Service | |||||
| For Unmarried Individuals, Taxable Income Over | For Married Individuals Filing Joint Returns, Taxable Income Over | For Heads of Households, Taxable Income Over | |
|---|---|---|---|
| 0% | $0 | $0 | $0 |
| 15% | $41,675 | $83,350 | $55,800 |
| 20% | $459,750 | $517,200 | $488,500 |
Source: Internal Revenue Service | |||
| Filing Status | Threshold |
|---|---|
| Unmarried Individuals | $170,050 |
| Married Filing Jointly | $340,100 |
Source: Internal Revenue Service | |
Annual Exclusion for Gifts
In 2022, the first $16,000 of gifts to any person are excluded from tax, up from $15,000. The exclusion is increased to $164,000 from $159,000 for gifts to spouses who are not citizens of the United States.