Tax brackets and rates for 2023

The information in the following charts comes directly from the IRS. The income brackets (dollar amounts) represent taxable income — meaning your income after tax deductions and credits — rather than your total income.

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To determine your tax rate for 2023, find your tax-filing status (words in bold) and select the most applicable income bracket listed under your tax-filing status. To the right of that bracket is your tax rate.

Married couples filing joint tax returns

• Up to $22,000 (was $20,550 for 2022) — 10%
• More than $22,000 (was $20,550) — 12%
• More than $89,450 (was $83,550) — 22%
• More than $190,750 (was $178,150) — 24%
• More than $364,200 (was $340,100) — 32%
• More than $462,500 (was $431,900) — 35%
• More than $693,750 (was $647,850) — 37%

Singles

• Up to $11,000 (was $10,275 for 2022) — 10%
• More than $11,000 (was $10,275) — 12%
• More than $44,725 (was $41,775) — 22%
• More than $95,375 (was $89,075) — 24%
• More than $182,100 (was $170,050) — 32%
• More than $231,250 (was $215,950) — 35%
• More than $578,125 (was $539,900) — 37%

Let’s say, for example, that your taxable income is $50,000 in 2023 and your tax-filing status is single. You would fall into the “more than $44,725” tax bracket and your tax rate would thus be 22%.

If your household’s taxable income is $50,000 in 2023 and your filing status is married filing jointly, you would fall into the “more than $22,000” bracket and your rate would be 12%.

To view all brackets, click the link below:

How to Change Your Tax Withholdings — and When to Do It (moneytalksnews.com)