Individual income taxes (or personal income taxes) are levied on earnings, salaries, investments, or other sources of income earned by an individual or household.
Many individual income taxes are “progressive,” which means that the tax rate rises as the taxpayer’s income rises. As a result, higher-earners pay a bigger share of income taxes than lower-earners.
In the United States, for example, income tax rates range from 10% to 37%, with specific income limits mentioned below. Tax brackets are the ranges of income that fall within certain rates. Each tax bracket’s applicable rate is applied to all income that falls inside it.
Income Tax Brackets and Tax Rates for 2021
| Tax Rate | Income Tax Bracket Single Filers | Income Tax Bracket for Married Couples Filing Jointly |
| 10% | $9,950 or less | $19,900 or less |
| 12% | $9,951 to $40,525 | $19,901 to $81,050 |
| 22% | $40,526 to $86,375 | $81,051 to $172,750 |
| 24% | $86,376 to $164,925 | $172,751 to $329,850 |
| 32% | $164,926 to $209,425 | $329,851 to $418,850 |
| 35% | $209,426 to $523,600 | $418,851 to $628,300 |
| 37% | Over $523,600 | Over $628,300 |
Source: Internal Revenue Service
Income Tax Brackets and Tax Rates for 2022
| Tax Rate | Income Tax Bracket Single Filers | Income Tax Bracket for Married Couples Filing Jointly |
| 10% | $10,275 or less | $20,550 or less |
| 12% | $10,276 to $41,775 | $20,551 to $83,550 |
| 22% | $41,776 to $89,075 | $83,551 to $178,150 |
| 24% | $89,076 to $170,050 | $178,151 to $340,100 |
| 32% | $170,051 to $215,950 | $340,101 to $431,900 |
| 35% | $215,951 to $539,900 | $431,901 to $647,850 |
| 37% | Over $539,900 | Over $647,850 |
Source: Internal Revenue Service
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