Highest marginal single - file fed income tax rate

Curious how federal income tax brackets and rates have changed over the years? Take a look back. Married, filing jointly. Married, filing separately. Head of household. Single filers. How tax brackets work. What is a marginal tax rate? How to get into a lower tax bracket and pay a lower federal income tax rate. Tax tools. More tax stories. Looking to file your taxes? Get started. Past years' tax brackets. On a similar note Dive even deeper in Taxes. Explore Taxes. Get more smart money moves — straight to your inbox.

The Personal Exemption , which is not supported by the Federal income tax, is an additional deduction you can take if you and not someone else are primarily responsible for your own living expenses.

Likewise, you can take an additional dependent exemption for each qualifying dependent like a child or family member , who you financially support.

The IRS introduced a bracketed income tax system in with the goal of creating a flexible income tax capable of generating revenue from the government while not overtaxing individuals who could not afford to pay.

The six-bracket system was designed to allow lower-income individuals to pay a lower overall percentage of tax on their total income than wealthy individuals, while maintaining equity by ensuring that everyone paid the same marginal income tax on each bracket regardless of what bracket they "belong in".

In addition to flexible brackets, dependant deductions and credits like the Earned Income Tax Credit EITC were introduced to ensure that the lowest-income families would not be overtaxed. Fourty-four of the fifty states collect a state income tax, all of which are lower than the Federal Income Tax.

While most states use a bracketed system similar to the Federal Income Tax, some use a flat income tax which collects a single, low percentage of all income from the first dollar to the last. For a listing of all of the state income tax brackets, visit the state income tax tables page.

Disclaimer: While we do our best to keep this list of Federal income tax rates up to date and complete, we cannot be held liable for errors or omissions. Is info on this page missing or out-of-date? Please let us know so we can fix it! The Federal tax brackets on this page have been updated for tax year , and are the latest brackets available. States often adjust their tax brackets on a yearly basis, so make sure to check back later for Federal updated tax year tax brackets!

Help us keep Tax-Brackets. Is any of our data outdated or broken? Let us know in a single click, and we'll fix it as soon as possible. Toggle navigation. On a yearly basis the IRS adjusts more than 40 tax provisions for inflation. These inflation adjustments are for tax year , for which taxpayers will file tax returns in early Note that the Tax Foundation is a c 3 educational nonprofit and cannot answer specific questions about your tax situation or assist in the tax filing process.

In , the income limits for all tax brackets and all filers will be adjusted for inflation and will be as follows Tables 1. The personal exemption for remains eliminated. The Alternative Minimum Tax AMT was created in the s to prevent high-income taxpayers from avoiding the individual income tax. This parallel tax income system requires high-income taxpayers to calculate their tax bill twice: once under the ordinary income tax system and again under the AMT.

The taxpayer then needs to pay the higher of the two. To prevent low- and middle-income taxpayers from being subject to the AMT, taxpayers are allowed to exempt a significant amount of their income from AMTI. However, this exemption phases out for high-income taxpayers. The AMT is levied at two rates: 26 percent and 28 percent. All these are relatively small increases from Long-term capital gains are taxed using different brackets and rates than ordinary income.

Everyone can benefit from learning more about the taxes we pay and their impact on the world around us. Unfortunately, tax policy can be complex. After previously working at various software companies, Amir uses his passion for technology and statistics to support the role of evidence-based policy in tax reform.