The Federal income tax is made up of 7 rate brackets (10%, 15%, 25%, 28%, 33%, 35%, and 39.6%).
Only the income you earn within a specific bracket is subject to that specific tax rate – therefore, moving into a higher tax bracket does not make all of your income taxable at a higher rate.
The amount of tax you owe the IRS each year is based on your income level and your filing status.
Here are the Federal tax rates that apply to your 2017 income (listed by filing status):
Single
TAXABLE INCOME | TAX RATE |
$0—$9,325 | 10% |
$9,325—$37,950 | $932.50 plus 15% of the amount over $9,325 |
$37,950—$91,900 | $5,226.25 plus 25% of the amount over $37,950 |
$91,900—$191,650 | $18,713.75 plus 28% of the amount over $91,900 |
$191,650-$416,700 | $46,643.75 plus 33% of the amount over $191,650 |
$416.700-$418,400 | $120,910.25 plus 35% of the amount over $416,700 |
$418,400 or more | $121,505.25 plus 39.6% of the amount over $418,400 |
Married Filing Jointly or Qualifying Widow(er)
TAXABLE INCOME | TAX RATE | |
$0—$18,650 | 10% | |
$18,650 to $75,900 | $1,865 plus 15% of the excess over $18,650 | |
$75,900 to $153,100 | $10,452.50 plus 25% of the excess over $75,900 | |
$153,100 to $233,350 | $29,752.50 plus 28% of the excess over $153,100 | |
$233,350 to $416,700 | $52,222.50 plus 33% of the excess over $233,350 | |
|
$112,728 plus 35% of the excess over $416,700 | |
$470,700 or more | $131,628 plus 39.6% of the excess over $470,700 |
Married Filing Separately
TAXABLE INCOME | TAX RATE |
$0—$9,225 | 10% |
$9,226—$37,450 | $922.50 plus 15% of the amount over $9,225 |
$37,451—$75,600 | $5,156.25 plus 25% of the amount over $37,450 |
$75,601—$115,225 | $14,693.75 plus 28% of the amount over $75,600 |
$115,226—$205,750 | $25,788.75 plus 33% of the amount over $115,225 |
$205,751—$232,425 | $55,662 plus 35% of the amount over $205,750 |
$232,426 or more | $64,998.25 plus 39.6% of the amount over $232,425 |
Head of Household
TAXABLE INCOME | TAX RATE |
$0 to $13,350 | 10% |
$13,350 to $50,800 | $1,335 plus 15% of the excess over $13,350 |
$50,800 to $131,200 | $6,952.50 plus 25% of the excess over $50,800 |
$131,200 to $212,500 | $27,052.50 plus 28% of the excess over $131,200 |
$212,500 to $416,700 | $49,816.50 plus 33% of the excess over $212,500 |
$416,700 to $444,500 | $117,202.50 plus 35% of the excess over $416,701 |
$444,550 or more | $126,950 plus 39.6% of the excess over $444,550 |
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Your 2017 individual income tax return is due by April 18, 2018 (for most taxpayers).
If you cannot file your tax return on time, make sure you file an extension to avoid IRS penalties.