BELOW SUPERNAV drop zone ⇩

2021 income tax brackets released: Where do you stand?

MAIN AREA TOP drop zone ⇩

MAIN AREA TOP drop zone ⇩

Mortgage Calculator

This calculator helps you estimate your monthly mortgage payment. It adds up the loan payment (principal + interest), property tax, and insurance. The loan payment is spread out over the years of your loan term.

This is the total amount you're borrowing from the bank.
This is the yearly interest rate on your loan.
This is how long you'll take to repay the loan.
This is the yearly tax you pay on your property.
This is the yearly cost to insure your home.

Monthly Payment Breakdown

Principal and Interest: $

Property Tax: $

Homeowners Insurance: $

Total Estimated Monthly Payment: $

WASHINGTON (Nexstar) — The Internal Revenue Service has released 2021 tax brackets, including inflation adjustments for the next year.

The IRS also boosted the standard deduction for a single taxpayer to $12,550. That’s an increase of $150 from this year.

Married couples could see a $300 increase with a joint deduction of $25,100.

There are seven marginal tax brackets. The IRS will tax different portions of your income at different rates.

Here’s how the seven tax brackets will break down, according to the IRS:

  • 10% – Applies to individual taxpayers with income under $9,950 ($19,900 for married filing jointly).
  • 12% – Applies to individual taxpayers with income over $9,950 ($19,900 for married filing jointly).
  • 22% – Applies to individual taxpayers with income over $40,525 ($81,050 for married filing jointly).
  • 24% – Applies to individual taxpayers with income over $86,375 ($172,750 for married filing jointly).
  • 32% – Applies to individual taxpayers with income over $164,925 ($329,850 for married filing jointly).
  • 35% – Applies to individual taxpayers with income over $209,425 ($418,850 for married filing jointly).
  • 37% – Applies to individual taxpayers with income over $523,600 ($628,300 for married filing jointly).

These 2021 figures will impact your 2022 filing.

Your Money

Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed

Site Settings Survey

 

MAIN AREA MIDDLE drop zone ⇩

Trending on NewsNation

MAIN AREA BOTTOM drop zone ⇩

tt

KC Chiefs parade shooting: 1 dead, 21 shot including 9 kids | Morning in America

Witness of Chiefs parade shooting describes suspect | Banfield

Kansas City Chiefs parade shooting: Mom of 2 dead, over 20 shot | Banfield

WWE star Ashley Massaro 'threatened' by board to keep quiet about alleged rape: Friend | Banfield

Friend of WWE star: Ashley Massaro 'spent hours' sobbing after alleged rape | Banfield

Sunny

la

65°F Sunny Feels like 65°
Wind
4 mph SSW
Humidity
35%
Sunrise
Sunset

Tonight

Partly cloudy early with increasing clouds overnight. Slight chance of a rain shower. Low 51F. Winds light and variable.
51°F Partly cloudy early with increasing clouds overnight. Slight chance of a rain shower. Low 51F. Winds light and variable.
Wind
4 mph S
Precip
16%
Sunset
Moon Phase
Waxing Gibbous