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IRS publishes tax rates and categories for 2021: what has changed

The Internal Revenue Service (IRS) has released federal tax rates and tax categories for 2021. Seven tax rates remained unchanged and income limits were adjusted for inflation. The details were shared by the edition CNBC.

Photo: Shutterstock

The 2021 tax categories affect taxes that will be filed in 2022.

Tax categories for 2021, based on income and filing status

For married persons filing a joint declaration:

  • 10%: taxable income up to $ 19
  • 12%: taxable income between $ 19 and $ 900
  • 22%: taxable income between $ 81 and $ 050
  • 24%: taxable income between $ 172 and $ 750
  • 32%: taxable income between $ 329 and $ 850
  • 35%: taxable income between $ 418 and $ 850
  • 37%: taxable income over $ 628

On the subject: Tax season 2021: changes to prepare for this year

For individual payers:

  • 10%: taxable income up to $ 9
  • 12%: taxable income between $ 9 and $ 950
  • 22%: taxable income between $ 40 and $ 525
  • 24%: taxable income between $ 86 and $ 375
  • 32%: taxable income from $ 164925 to $ 209
  • 35%: taxable income between $ 209 and $ 425
  • 37%: taxable income over $ 523

These rates and categories are federal taxes. Your state may have different categories, zero taxes, or flat rate.

The above rates apply to taxable income after the use of standard deductions (or detailed deductions) and other tax credits. The IRS also announced that the standard deduction for the 2021 tax year will increase by $ 300 to $ 25 for joint filing couples and $ 100 to $ 150 for individual taxpayers. For the head of household, the standard deduction will increase by $ 12 to $ 550.

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