For the 2023 tax year, the tax rates are the same as previous years with seven federal tax brackets: 10%, 12%, 22%, 24%, 32%, 35% and 37%. You can determine your tax bracket using your taxable income and tax filing status.
Overview of tax brackets for 2023
For taxes due in April 2024
| Tax Rate | For Single Filers | For Married Individuals Filing Joint Returns | For Heads of Households |
|---|---|---|---|
| 10% | $0 to $11,000 | $0 to $22,000 | $0 to $15,700 |
| 12% | $11,000 to $44,725 | $22,000 to $89,450 | $15,700 to $59,850 |
| 22% | $44,725 to $95,375 | $89,450 to $190,750 | $59,850 to $95,350 |
| 24% | $95,375 to $182,100 | $190,750 to $364,200 | $95,350 to $182,100 |
| 32% | $182,100 to $231,250 | $364,200 to $462,500 | $182,100 to $231,250 |
| 35% | $231,250 to $578,125 | $462,500 to $693,750 | $231,250 to $578,100 |
| 37% | $578,125 or more | $693,750 or more | $578,100 or more |
Filing status explained
The filing status is tied to marital status and determines the type of tax return form you’ll use when you file your taxes. Here are the different filing statuses and their meanings.
- Single filer: Any individual who is not married, divorced, a registered domestic partner, or legally separated according to state law as of the last day of the tax year.
- Married filing jointly: If you’re married, you and your spouse could choose to file your taxes jointly. Your respective incomes, exemptions, and deductions would get recorded on the same tax return, and could result in a bigger tax refund or a lower tax bill.
- Married filing separately: If you’re married, some couples may be able to receive a larger tax return or receive additional benefits if they decide to file separately rather than jointly (ie. one qualifies for certain exemptions or deductions, and the other doesn’t).
- Head of household: Filing as a head of household has lower tax rates. A head of household is any single or unmarried taxpayer who pays for at least 50% of the costs of supporting a qualifying family member. You must provide support for them for at least of the year in order to be able to file as a head of household. An example is a single individual who cares for their grandparent over half of the year and pays for at least 50% of all utilities and living expenses.
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2023 federal income tax brackets
Single filers
| Tax bracket | Taxes owed |
|---|---|
| Not over $11,000 | 10% of taxable income |
| Over $11,000 but not over $44,725 | $1,100 plus 12% of the excess over $11,000 |
| Over $44,725 but not over $95,375 | $5,147 plus 22% of the excess over $44,725 |
| Over $95,375 but not over $182,100 | $16,290 plus 24% of the excess over $95,375 |
| Over $182,100 but not over $231,250 | $37,104 plus 32% of the excess over $182,100 |
| Over $231,250 but not over $578,125 | $52,832 plus 35% of the excess over $231,250 |
| Over $578,125 | $174,238.25 plus 37% of the excess over $578,125 |
Married filing separately
| Tax bracket | Taxes owed |
|---|---|
| Not over $11,000 | 10% of taxable income |
| Over $11,000 but not over $44,725 | $1,100 plus 12% of the excess over $11,000 |
| Over $44,725 but not over $95,375 | $5,147 plus 22% of the excess over $44,725 |
| Over $95,375 but not over $182,100 | $16,290 plus 24% of the excess over $95,375 |
| Over $182,100 but not over $231,250 | $37,104 plus 32% of the excess over $182,100 |
| Over $231,250 but not over $346,875 | $52,832 plus 35% of the excess over $231,250 |
| Over $346,875 | $93,300.75 plus 37% of the excess over $346,875 |
Married filing jointly
| Tax bracket | Taxes owed |
|---|---|
| Not over $22,000 | 10% of taxable income |
| Over $22,000 but not over $89,450 | $2,200 plus 12% of the excess over $22,000 |
| Over $89,450 but not over $190,750 | $10,204 plus 22% of the excess over $89,450 |
| Over $190,750 but not over $364,200 | $32,580 plus 24% of the excess over $190,750 |
| Over $364,200 but not over $462,500 | $74,208 plus 32% of the excess over $364,200 |
| Over $462,500 but not over $693,750 | $105,664 plus 35% of the excess over $462,500 |
| Over $693,750 | $186,601.50 plus 37% of the excess over $693,750 |
Head of household
| Tax bracket | Taxes owed |
|---|---|
| Not over $15,700 | 10% of taxable income |
| Over $15,700 but not over $59,850 | $1,570 plus 12% of the excess over $15,700 |
| Over $59,850 but not over $95,350 | $6,868 plus 22% of the excess over $59,850 |
| Over $95,350 but not over $182,100 | $14,678 plus 24% of the excess over $95,350 |
| Over $182,100 but not over $231,250 | $35,498 plus 32% of the excess over $182,100 |
| Over $231,250 but not over $578,100 | $51,226 plus 35% of the excess over $231,250 |
| Over $578,100 | $172,623.50 plus 37% of the excess over $578,100 |
Also read: When Are Taxes Due? Important Deadlines for the 2022 & 2023 Tax Years
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