This year is coming to an end, and taking advantage of the time we have before tax season begins is one of the smartest decisions we can take. One of the most common questions we get is regarding the tax brackets, since many taxpayers may be confused about which one applies to them. Now, understanding the tax brackets set by the IRS can be a bit tricky, especially if we are filing our income tax report on our own. That’s why we decided to share with you the tax brackets that will apply for 2020. This way, you will be able to find which one you’re at, and what part of your income qualifies to a given tax rate depending on your filing status.

Tax Brackets for Filing Single

 

Bracket	Tax Amount plus Percentage	Amount Over
$0 to $9,875	$0 plus 10%	$0
$9,875 to $40,125	$987.50 plus 12%	$9,875
$40,125 to $85,525	$4,617.50 plus 22%	$40,125
$85,525 to $163,300	$14,605.50 plus 24%	$85,525
$207,350 to $518,400	$47,367.50 plus 35%	$207,350
Above $518,400	$156,235 plus 37%	$518,400

 

Tax Brackets for Filing as Head of Household

 

Bracket	Tax Amount plus Percentage	Amount Over
$0 to $14,100	$0 plus 10%	$0
$14,100 to $53,700	$1,410 plus 12%	$14,100
$53,700 to $85,500	$6,162 plus 22%	$53,700
$85,500 to $163,300	$13,158 plus 24%	$85,500
$163,300 to $207,350	$31,830 plus 32%	$163,300
$207,350 to $518,400	$45,926 plus 35%	$207,350
Above $518,400	$154,793.50 plus 37%	$518,400

 

Tax Brackets for Married Filing Jointly

 

Bracket	Tax Amount plus Percentage	Amount Over
$0 to $19,750	$0 plus 10%	$0
$19,750 to $80,250	$1,975 plus 12%	$19,750
$80,250 to $171,050	$9,235 plus 22%	$80,250
$171,050 to $326,600	$29,211 plus 24%	$171,050
$326,600 to $414,700	$66,543 plus 32%	$326,600
$414,700 to $622,050	$94,735 plus 35%	$414,700
Above $622,050	$167,307.50 plus 37%	$622,050

 

Tax Brackets for Married Filing Separately

 

Bracket	Tax Amount plus Percentage	Amount Over
$0 to $9,875	$0 plus 10%	$0
$9,875 to $40,125	$987.50 plus 12%	$9,875
$40,125 to $85,525	$4,617.50 plus 22%	$40,125
$85,525 to $163,300	$14,605.50 plus 24%	$85,525
$163,300 to $207,350	$33,271.50 plus 32%	$163,300
$207,350 to $311,025	$47,367.50 plus 35%	$207,350
Above $311,025	$83,653.75 plus 37%	$311,025