2020 Tax Rates Tables

The Internal Revenue Service (IRS) has announced the annual inflation adjustments for the year 2020, including tax rate schedules, tax tables and cost-of-living adjustments.

There are seven (7) tax rates in 2020. 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  – $9,875 10% of taxable income
$9,876- $40,125 $987.50 + 12% of the amount over $9,875
$40,126 – $85,525 $4,617.50 + 22% of the amount over $40,125
$85,526 – $163,300 $14,605.50 + 24% of the amount over $85,525
$163,301 – $207,350 $33,271.50 + 32% of the amount over $163,300
$207,351 – $518,400 $47,367.50 + 35% of the amount over $207,350
$518,400 $156,235 + 37% of the amount over $518,400

 

Married Individuals filling Joint returns and surviving spouses

If Taxable Income Is Between: The Tax Due Is:
$0  – $19,750 10% of taxable income
$19,751 – $80,250 $1,975 + 12% of the amount over $19,750
$80,251 – $171,050 $9,235 + 22% of the amount over $80,250
$171,051 – $326,600 $29,211 + 24% of the amount over $171,050
$326,601 – $414,700 $66,543 + 32% of the amount over $326,600
$414,701 – $622,050 $94,735 + 35% of the amount over $414,700
$622,051 $167,307.50 + 37% of the amount over $622,050

 

Heads Of Household

Taxable income Is Between: The Tax Due Is:
$0 -$14,100 10% of taxable income
$518,401 $1,410 + 12% ofthe amount over $14,100
$14,101 – $53,700 $6,162 + of the amount over $53,700
$53,701 – $85 500 $13,158 + 24% of the amount over $85,500
$85,501 – $163,300 $31 ,830 + 32% of the amount over $163,300
$163,301 – $207,350 $45,926 + 35% of the amount over $207 ,350
$207,351 – $518,400 $154,793.50 + 37% of the amount over $518,400

 

Married Filing Separately

If Taxable Income Is Between: The Tax Due Is:
$0  – $9,875 10% of taxable income
$9,876 – $40,125 $987.50 + 12% of the amount over $9,875
$40,126 – $85,525 $4,617.50 + 22% of the amount over $40, 125
$85,526 – $163,300 $14,605.50 + 24% of the amount over $85,525
$163,301 – $207,350 $33,271.50 + 32% of the amount over $163,300
$207,351 -$311,025 $47,367.50 + 35% of the amount over $207,350
$311 ,026 $83,653.75 + 37% of the amount over $311,025

 

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