Federal Income Tax Brackets

Author: External Author | | Categories: Business Tax Preparation , Personal Tax Planning , Small Business Tax Services

The U.S. imposes an income tax using progressive rates. An individual's tax liability gradually increases as their income increases. There are seven marginal tax rates or brackets as of 2021: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. The income that these rates apply to adjusts every year to take inflation into account.

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Original Article Source Credits:   The Balance , https://www.thebalance.com/

Article Written By:  William Perez

Original Article Posted on:   January 15, 2021

Link to Original Article:  https://www.thebalance.com/federal-income-tax-brackets-3193155

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