Updated Tax Brackets for 2020 Released by IRS

The IRS has just released the 2020 income tax brackets but we’ll break it down below into easier to digest sections. 

The federal tax rates themselves stay the same as last year but the income limits have changed to adjust for inflation. This means that these updated rates will affect the taxes you pay on the income you earn in 2020, when you file in 2021.



If you’re a freelancer or a gig worker, then it would be helpful to know ahead of time what income bracket you’ll fall in since you’ll be paying the estimated taxes throughout the year.

Single Filers 

10% for incomes up to $9,875

12% for incomes over $9,875 and up to $40,125

22% for incomes over $40,125 and up to $85,525

24% for incomes over $85,525 and up to $163,300

32% for income over $163,300 and up to $207,350

35% for incomes over $207,350 and up to $518,400

37% for incomes over $518,400

Married Couples Filing Jointly

10% for incomes up to $19,750

12% for incomes over $19,750 and up to $80,250

22% for incomes over $80,250 and up to $171,050

24% for incomes over $171,050 and up to $326,600

32% for incomes over $326,600 and up to $414,700

35% for incomes over $414,700 and up to $622,050

37% for incomes over $622,050

Married Individuals Filing Separately

10% for incomes up to $9,875

12% for incomes over $9,875 and up to $40,125

22% for incomes over $40,125 and up to $85,525

24% for incomes over $85,525 and up to $163,300

32% for incomes over $163,300 and up to $207,350

35% for incomes over $207,350 and up to $311,025

37% for incomes over $311,025

Heads of Households 

10% for incomes up to $14,100

12% for incomes over $14,100 and up to $53,700

22% for incomes over $53,700 and up to $85,500

24% for incomes over $85,500 and up to $163,300

32% for incomes over $163,300 and up to $207,350

35% for incomes over $207,350 and up to $518,400

37% for incomes over $518,400

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