Federal Income Tax Brackets
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.
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