Tax Rates
2022 Tax Rates Tables
The Internal Revenue Service (IRS) has announced the annual inflation adjustments for the year 2022, including tax rate schedules, tax tables and cost-of-living adjustments.
There are seven (7) tax rates in 2022. They are: 10%, 12%, 22%, 24%, 32%, 35% and 37% (there is also a zero rate). Here’s how those break out by filing status:
Individual Tax payers
| If Taxable Income Is Between: | The Tax Due Is: |
| $0 – $9,950 | 10% of the amount over $0 |
| $9,950 – $40,525 | $995 plus 12% of the amount over $9,950 |
| $40,525 – $86,375 | $4,664 plus 22% of the amount over $40,525 |
| $86,375 – $164,925 | $14,751 plus 24% of the amount over $86,375 |
| $164,925 – $209,425 | $33,603 plus 32% of the amount over $164,925 |
| $209,425 – $523,600 | $47,843 plus 35% of the amount over $209,425 |
| $523,600 – no limit | $157,804 plus 37% of the amount over $523,600 |
Married Individuals filling Joint returns and surviving spouses
| If Taxable Income Is Between: | The Tax Due Is: |
| $0 – $19,900 | 10% of the amount over $0 |
| $19,900 – $81,050 | $1,990 plus 12% of the amount over $19,900 |
| $81,050 – $172,750 | $9,328 plus 22% of the amount over $81,050 |
| $172,750 – $329,850 | $29,502 plus 24% of the amount over $172,750 |
| $329,850 – $418,850 | $67,206 plus 32% of the amount over $329,850 |
| $418,850 – $628,300 | $95,686 plus 35% of the amount over $418,850 |
| $628,300 – no limit | $168,994 plus 37 % of the amount over $628,300 |
Heads Of Household
| If Taxable Income Is Between: | The Tax Due Is: |
| $0 – $14,200 | 10% of the amount over $0 |
| $14,200 – $54,200 | $1,420 plus 12% of the amount over $14,200 |
| $54,200 – $86,350 | $6,220 plus 22% of the amount over $54,200 |
| $86,350 – $164,900 | $13,293 plus 24% of the amount over $86,350 |
| $164,900 – $209,400 | $32,145 plus 32% of the amount over $164,900 |
| $209,400 – $523,600 | $46,385 plus 35% of the amount over $209,400 |
| $523,600 – no limit | $156,355 plus 37% of the amount over $523,600 |
Married Filing Separately
| If Taxable Income Is Between: | The Tax Due Is: |
| $0 – $9,950 | 10% of the amount over $0 |
| $9,950 – $40,525 | $995 plus 12% of the amount over $9,950 |
| $40,525 – $86,375 | $4,664 plus 22% of the amount over $40,525 |
| $86,375 – $164,925 | $14,751 plus 24% of the amount over $86,375 |
| $164,925 – $209,425 | $33,603 plus 32% of the amount over $164,925 |
| $209,425 – $314,150 | $47,843 plus 35% of the amount over $209,425 |
| $314,150 – no limit | $84,497 plus 37% of the amount over $314,150 |
Trusts & Estates
| If Taxable Income Is Between: | The Tax Due Is: |
| $0 – $2,600 | 10% Of taxable income |
| $2,601 – $9,450 | $260 + 24% of the amount over $2,600 |
| $9,451 – $12,950 | $1,904 + 35% of the amount over $9,450 |
| $12,951 | $3,129 + 37% of the amount over $12,950 |
Tax Due Dates
When are 2022 Tax Due Dates?
You have right up until tax day to file for an extension. For individuals, that means you can still file for a tax extension right on April 15. The same goes for businesses: S corps and partnerships can still get an extension on March 15, and the last day for C corps to file for an extension is April 15.
January 10, 2022
Estimated quarterly payments
Say a final goodbye to 2022. The fourth (and final) estimated quarterly tax payment for the previous tax year is due today.
Note: Individuals, you do not have to file this payment due on January 18, 2022—so long as you file your 2022 tax return by January 31, 2022 and pay the remaining balance owed with your return.
Forms:
February 1, 2022
Form W-2 filing deadline
If you have employees, you’ll need to fill out two copies of Form W-2 for each one.
One W-2 must be submitted to the IRS. The other must be sent to the employee. The deadline for both is February 1, 2022.
Forms:
Form 1099-NEC Copy A filing deadline
If you work with independent contractors, the new 1099-NEC form is due February 1, 2022.
Copy A must be filed with the IRS by this date. Copy B must be furnished to the contractor on this date, as well.
Forms:
March 1, 2022
Form 1099-MISC paper filing deadline
Some 1099s will require a 1099-MISC form.
This due date will only be for paper filing. If you file electronically or miss the paper filing deadline, you can file on March 31, 2022.
You must deliver Copy A to the IRS, and Copy B to your recipient.
Forms:
How to prepare your books for tax filing?
Our experts will explain how to make sure the books are in order for your small business ahead of upcoming tax deadlines, and answer any bookkeeping questions you have.
March 15, 2022
S corporation and partnership tax returns due
Note that S corporations and Partnerships do not pay taxes on their income. That tax is paid on the individual incomes of the shareholders or partners, respectively.
March 15 is also the deadline to file for an extension for S corp and partnership tax returns.
Forms:
March 31, 2022
Form 1099-MISC Copy A filing deadline
Some 1099s will require a 1099-MISC form. This includes payments to an individual or LLC of at least $600 during the year in rent paid, legal settlements, or prize or award winnings.
This due date will only be for electronic filing.
You must deliver Copy A to the IRS, and Copy B to your recipient.
Forms:
April 15, 2022
Estimated quarterly payments
So it begins. If your business pays taxes on a quarterly basis, the first 2022 estimated quarterly tax payment is due today.
Forms:
Individual tax returns due
If you income is below $66,000 for the tax year, you can e-file for free using IRS Free File. If your income was above that, you can use the IRS’ free, fillable forms.
If you’re a sole proprietor filing Schedule C on your personal tax returns, the April 15, 2022 deadline applies to you too.
July 15 is also the deadline to file for an extension to file your individual tax return.
C corporation tax returns due
April 15 is also the deadline to file for an extension to file your corporate tax return.
Forms:
- Form 1120, U.S. Corporation Income Tax Return
- Form 7004, Application for an Automatic Extension of Time
State tax returns
Each state determines their own tax deadlines. To find a list of current state tax deadlines, click here.
June 15, 2022
Estimated quarterly payments
The second 2022 estimated quarterly tax payment is due today.
Forms:
September 15, 2022
Estimated quarterly payments
The third 2022 estimated quarterly tax payment is due today.
If you are an S corporation or partnership that successfully filed for an extension, your tax return is now due.
Forms:
- Form 1040-ES, Estimated Tax for Individuals (Payment Voucher 3)
- Form 1120S, Income Tax Return for an S Corporation
- Form 1065, US Return of Partnership Income
October 15, 2022
If you are a C corporation that filed for an extension, your income tax return is now due.
Forms:
November 1, 2022
Start making tax moves
End of year tax moves can help grow your business and reduce your taxable income for the calendar year. If you haven’t done so already, now’s the time to plan and take action.
December 31, 2022
Tax moves deadline
Today is the final day to make any tax moves for the 2022 tax year.
Set up a solo 401 (k)
If you are self-employed, today is the deadline to set up a solo 401 (k).
When can I start filing taxes for 2022?
You can start filing next year’s tax return on January 1, 2022.
When will I get my tax refund?
In 2018, 9 out of 10 e-filers received their refund less than 21 calendar days after their return was received by the IRS.
That’s not an IRS promise or anything. But in general, you can expect to get your tax refund 3-4 weeks after filing your return. That being said, these are unprecedented times. It’s impossible to say when you’d get your tax refund in 2022.
IRS Tax Forms and Publications
https://www.irs.gov/forms-instructions
Record Retention Guide
How long should I keep records?