2023 Tax Brackets and Federal Income Tax Rates
The IRS made significant adjustments to the income thresholds for each bracket for 2023, which means that some people may be in a lower tax bracket than they were previously.
The IRS tax brackets are ranges of income that are taxed at different rates by the federal government. The tax brackets for 2023 are the same as 2022: 10%, 12%, 22%, 24%, 32%, 35% and 37%. Your tax bracket will depend on your income and filing status.
Single ($13,850 Standard Deduction)
| Taxable income bracket | Tax |
|---|---|
| 0 to $11,000 | 10% |
| $11,001 to $44,725 | 12% |
| $44,726 to $95,375 | 22% |
| $95,376 to $182,100 | 24% |
| $182,101 to $231,250 | 32% |
| $182,101 to $231,250 | 35% |
| Over $578,125 | 37% |
Married Jointly/Qualifying Widower ($27,700 St Deduction)
| Taxable income bracket | Tax |
|---|---|
| 0 to $22,000 | 10% |
| $22,001 to $89,450 | 12% |
| $89,451 to $190,750 | 22% |
| $190,751 to $364,200 | 24% |
| $364,201 to $462,500 | 32% |
| $462,501 to $693,750 | 35% |
| Over $693,750 | 37% |
Married Separately ($13,850 Standard Deduction)
| Taxable income bracket | Tax |
|---|---|
| 0 to $11,000 | 10% |
| $11,001 to $44,725 | 12% |
| $44,726 to $95,375 | 22% |
| $95,376 to $182,100 | 24% |
| $182,101 to $231,250 | 32% |
| $231,251 to $578,125 | 35% |
| Over $578,125 | 37% |
Head of Household ($20,800 Standard Deduction)
| Taxable income bracket | Tax |
|---|---|
| 0 to $15,700 | 10% |
| $15,701 to $59,850 | 12% |
| 59,851 to $95,350 | 22% |
| $95,351 to $182,100 | 24% |
| $182,101 to $231,250 | 32% |
| $231,251 to $578,100 | 35% |
| Over $578,101 | 37% |
What are tax brackets?
Tax brackets are ranges of income that are taxed at different rates by the IRS. The more income you earn, the higher your tax rate will be for each bracket. However, you don’t pay the same rate on your entire income. You only pay the higher rate on the portion of your income that falls into that bracket.
We can help with your taxes!
What is your filing status and taxable income for 2023? We can help you calculate your tax liability based on the current tax brackets.
Mraz Tax Solutions offers free initial consultations and complete tax services for individuals, self-employed, and small businesses.