What are the Federal Income Tax Brackets for 2022-2023?

Paul Bryant27 Mar, 2023Business

The U.S. federal tax rates income tax brackets are the same for both 2022 and 2023, but the income thresholds that inform the tax brackets are generally increased to reflect inflation each year. These inflation adjustments can help prevent taxpayers from ending up in a higher tax bracket as their cost of living rises. For the 2023 tax year, inflation-adjusted income thresholds will inform the eight tax brackets: 10%, 12%, 22%, 24%, 32%, 35%, and 37%.