The United States uses a Graduated Income Tax System
Tax table for the year 2022. Taxes are due April 17, 2023
| Tax Rate | Single Filer | Married Filing Jointly | Married Filing Separately | The Head of Household |
| 10% | $0 to $10,275 | $0 to $20,550 | $0 to $10,275 | $0 to $14,650 |
| 12% | $10,276 to $41,775 | $20,551 to $83,550 | $10,276 to $41,775 | $14,651 to $55,900 |
| 22% | $41,776 to $89,075 | $83,551 to $178,150 | $41,776 to $89,075 | $55,901 to $89,050 |
| 24% | $89,076 to $170,050 | $178,151 to $340,100 | $89,076 to $170,050 | $89,051 to $170,050 |
| 32% | $170,051 to $215,950 | $340,101 to $431,900 | $170,051 to $215,950 | $170,051 to $215,950 |
| 35% | $215,951 to $539,900 | $431,901 to $647,850 | $215,951 to $323,925 | $215,951 to $539,900 |
| 37% | $539,901 or more | $647,851 or more | $323,926 or more | $539,901 or more |
The more money you make, the higher your income tax bracket gets however, what is often somewhat confusing to people, is that your Entire Income is not taxed at the same rate as that of the bracket you fall into.
For example: If you are filing under SINGLE and your income falls within the 32% tax bracket:
The amount of your income that falls between the range of $0 to $10,275 is taxed at 10%
The amount of your income that falls between the range of $10,276 to $41,775 is taxed at 12%
The amount of your income that falls between the range of $41,776 to $89,075 is taxed at 22%
The amount of your income that falls between the range of $89,076 to$170,050 is taxed at 24%
Only the amount of your income that falls between the range of $170,051 to $215,950 is taxed at 32%
Qualifying Widow or Widower
If your spouse passed away in 2022, and you meet certain requirements, you may be eligible for the tax status of Qualified Widow or Widower. The Qualifed Widow or Qualified Widower standard deduction is the same as married filing jointly. If your spouse died in 2022, you may only qualify for income tax purposes as a Qualifying Widow or Widower for 2023 or 2024 if you meet the requirements listed below:
Corporations (including S and C Corps) - C corporations (Form 1120) also file on April 18.
S corporations (Form 1120S) and partnerships (Form 1065) file on March 15.
Missing the tax filing deadline without filing an extension means that the IRS can charge penalties and interest on your taxes owed which could result in a .5% monthly penalty on the amount due, up to 25% on top of your originally owed taxes, plus interest.
