What is the next tax bracket?

The next tax bracket is 12% of taxable income levels between $11,601 to $47,150. The tax rates continue to increase as someone’s income moves into higher brackets. The IRS uses different federal income tax brackets and ranges depending on filing status: Read more in Viewpoints about how tax brackets work.

What are income tax brackets & rates?

Income tax brackets and rates continue to evolve. It was first introduced in 1913 and has been as high as 94%. Today’s top tax rate of 37% took effect in 2018. Each bracketed rate applies to a portion of a person’s income.

What is the income tax rate for married couples?

12% for incomes over $11,000 ($22,000 for married couples filing jointly). The lowest rate is 10% for incomes of single individuals with incomes of $11,000 or less ($22,000 for married couples filing jointly).