what are the federal tax brackets for 2023

what are the federal tax brackets for 2023

1 year ago 39
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According to multiple sources, including NerdWallet, Forbes Advisor, the IRS, Tax Foundation, and Kiplinger, the federal tax brackets for 2023 are as follows:

  • 10%: $0 to $11,000
  • 12%: $11,001 to $44,725
  • 22%: $44,726 to $95,375
  • 24%: $95,376 to $182,100
  • 32%: $182,101 to $231,250
  • 35%: $231,251 to $578,125
  • 37%: $578,126 or more

Its important to note that these tax brackets are based on taxable income and filing status, and the income thresholds for each bracket can change from year to year due to inflation adjustments. Taxpayers can use these brackets to calculate their marginal and effective tax rates and determine how much they owe in federal income taxes.

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