What Are The Tax Brackets For 2021?
Updated: Feb 5, 2021
For tax year 2020, there are seven tax rates: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. The tax brackets adjusted for inflation and the tax owed for different filing statuses are listed below (Source: IRS).
1. Tax Rates & Brackets
Single Filers
Married Filing Jointly and Surviving Spouse
Married Filing Separately
Head of Household
The tax rates for trusts and estates are 10%, 24%, 35%, and 37%. The tax brackets and tax owed are as follows: