IRS releases new tax brackets for 2022

On Wednesday, the IRS announced the new and higher federal income tax brackets for 2022 to account for inflation.   

Check out the new numbers here: 

Standard deductions

Married and filing jointly 

• • The standard deduction is up $800 from last year to $25,900

Single and married filing separately 

• • The standard deduction is now $12,950, an increase of $400

Heads of households 

• • The standard deduction is now $19,400, an increase of $600 

2022 tax bracket for married and filing jointly 

• • 37% for incomes higher than $647,850 
  • 35% for incomes higher than $431,900
  • 32% for incomes higher than $340,100 
  • 24% for incomes higher than $178,150 
  • 22% for incomes higher than $83,550
  • 12% for incomes higher than $20,550 
  • 10% for incomes of $20,550 and less

2022 tax bracket for single taxpayers 

• • 37% for incomes higher than $539,900 
  • 35% for incomes higher than $215,950
  • 32% for incomes higher than $170,050 
  • 24% for incomes higher than $89,075
  • 22% for incomes higher than $41,775
  • 12% for incomes higher than $10,275 
  • 10% for incomes of $10,275 and less

Read the announcement from the IRS here. 

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