Tax Rates
Tax tables are provided by the Internal Revenue Service (IRS) to help taxpayers determine how much tax they owe and how to calculate it when they file their annual tax returns.
2022 Tax Returns
2021 Tax Returns
2022 Tax Returns
2022 Tax Rates Schedule X – Single
| If taxable income is over | But not over | The tax is |
|---|---|---|
| $0 | $10,275 | 10% of the taxable amount |
| $10,275 | $41,775 | $1,027.50 plus 12% of the excess over $10,275 |
| $41,775 | $89,075 | $4,807.50 plus 22% of the excess over $41,775 |
| $89,075 | $170,050 | $15,213.50 plus 24% of the excess over $89,075 |
| $170,050 | $215,950 | $34,647.50 plus 32% of the excess over $170,050 |
| $215,950 | $539,900 | $49,335.50 plus 35% of the excess over $215,950 |
| $539,900 | no limit | $162,718.00 plus 37% of the excess over $539,900 |
2022 Tax Rates Schedule Y-1 – Married Filing Jointly or Qualifying Widow(er)
| If taxable income is over | But not over | The tax is |
|---|---|---|
| $0 | $20,550 | 10% of the taxable amount |
| $20,550 | $83,550 | $2,055.00 plus 12% of the excess over $20,550 |
| $83,550 | $178,150 | $9,615.00 plus 22% of the excess over $83,550 |
| $178,150 | $340,100 | $30,427.00 plus 24% of the excess over $178,150 |
| $340,100 | $431,900 | $69,295.00 plus 32% of the excess over $340,100 |
| $431,900 | $647,850 | $98,671.00 plus 35% of the excess over $431,900 |
| $647,850 | no limit | $174,253.50 plus 37% of the excess over $647,850 |
2022 Tax Rates Schedule Y-2 – Married Filing Separately
| If taxable income is over | But not over | The tax is |
|---|---|---|
| $0 | $10,275 | 10% of the taxable amount |
| $10,275 | $41,775 | $1,027.50 plus 12% of the excess over $10,275 |
| $41,775 | $89,075 | $4,807.50 plus 22% of the excess over $41,775 |
| $89,075 | $170,050 | $15,213.50 plus 24% of the excess over $89,075 |
| $170,050 | $215,950 | $34,647.50 plus 32% of the excess over $170,050 |
| $215,950 | $323,925 | $49,335.50 plus 35% of the excess over $215,950 |
| $323,925 | no limit | $87,126.75 plus 37% of the excess over $323,925 |
2022 Tax Rates Schedule Z – Head of Household
| If taxable income is over | But not over | The tax is |
|---|---|---|
| $0 | $14,650 | 10% of the taxable amount |
| $14,650 | $55,900 | $1,465.00 plus 12% of the excess over $14,650 |
| $55,900 | $89,050 | $6,415.00 plus 22% of the excess over $55,900 |
| $89,050 | $170,050 | $13,708.00 plus 24% of the excess over $89,050 |
| $170,050 | $215,950 | $33,148.00 plus 32% of the excess over $170,050 |
| $215,950 | $539,900 | $47,836.00 plus 35% of the excess over $215,950 |
| $539,900 | no limit | $161,218.50 plus 37% of the excess over $539,900 |
2022 Tax Rates Estates & Trusts
| If taxable income is over | But not over | The tax is |
|---|---|---|
| $0 | $2,750 | 10% of the taxable amount |
| $2,750 | $9,850 | $275 plus 24% of the excess over $2,750 |
| $9,850 | $13,450 | $1,979 plus 35% of the excess over $9,850 |
| $13,450 | no limit | $3,239 plus 37% of the excess over $13,450 |
Social Security 2022 Tax Rates
| Base Salary | $147,000 |
| Social Security Tax Rate | 6.20% |
| Maximum Social Security Tax | $9,114 |
| Medicare Base Salary | unlimited |
| Medicare Tax Rate | 1.45% |
Additional Medicare 2022 Tax Rates
| Additional Medicare Tax | 0.90% |
| Filing status | Compensation over |
| Married filing jointly | $250,000 |
| Married filing separate | $125,000 |
| Single | $200,000 |
| Head of household (with qualifying person) | $200,000 |
| Qualifying widow(er) with dependent child | $200,000 |
Education 2022 Credit and Deduction Limits
| Standard Deduction | |
|---|---|
| Married filing jointly or Qualifying Widow(er) | $25,900 |
| Head of household | $19,400 |
| Single or Married filing separately | $12,950 |
| Business Equipment Expense Deduction | $1,080,000 |
| Prior-year safe harbor for estimated taxes of higher-income | 110% of your 2021 tax liability |
| Standard mileage rate for business driving | 58.5 cents Jan. 1 – June 30, 2022; 62.5 cents July 1 – Dec. 31, 2022 |
| Standard mileage rate for medical/moving driving | 18 cents Jan. 1 – June 30, 2022; 22 cents July 1 – Dec. 31, 2022 |
| Standard mileage rate for charitable driving | 14 cents |
| Child Tax Credit | $2,000 per qualifying child |
| Maximum capital gains tax rate for taxpayers with adjusted net capital gain up to $83,350 for joint filers and surviving spouses, $55,800 for heads of household, $41,675 for single filers, $41,675 for married taxpayers filing separately, and $2,800 for estates and trusts | 0% |
| Maximum capital gains tax rate for taxpayers with adjusted net capital gain over the amount subject to the 0% rate, and up to $517,200 for joint filers and surviving spouses, $488,500 for heads of household, $459,750 for single filers, $258,600 for married taxpayers filing separately, and $13,700 for estates and trusts | 15% |
| Maximum capital gains tax rate for taxpayers with adjusted net capital gain over $517,200 for joint filers and surviving spouses, $488,500 for heads of household, $459,750 for single filers, $258,600 for married taxpayers filing separately, and $13,700 for estates and trusts | 20% |
| Long-term gain attributable to certain depreciation recapture | 25% |
| Capital gains tax rate on collectibles and qualified small business stock | 28% |
| Maximum contribution for Traditional/Roth IRA | $6,000 if under age 50 $7,000 if 50 or older |
| Maximum employee contribution to SIMPLE IRA | $14,000 if under age 50 $17,000 if 50 or older |
| Maximum Contribution to SEP IRA | 25% of compensation up to $61,000 |
| 401(k) maximum employee contribution limit | $20,500 if under age 50 $27,000 if 50 or older |
| Self-employed health insurance deduction | 100% |
| Estate tax exemption | $12,060,000 |
| Annual Exclusion for Gifts | $16,000 |
| Foreign Earned Income Exclusion | $112,000 |
2021 Tax Returns
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