You pay tax as a percentage of your income in layers called tax brackets. As your income goes up, the tax rate on the next layer of income is higher.
When your income jumps to a higher tax bracket, you don't pay the higher rate on your entire income. You pay the higher rate only on the part that's in the new tax bracket.
2023 tax rates for a single taxpayer
For a single taxpayer, the rates are:
Tax rate | on taxable income from . . . | up to . . . |
---|---|---|
10% | $0 | $11,000 |
12% | $11,001 | $44,725 |
22% | $44,726 | $95,375 |
24% | $95,376 | $182,100 |
32% | $182,101 | $231,250 |
35% | $231,251 | $578,125 |
37% | $578,126 | And up |
Here’s how that works for a single person earning $58,000 per year:
2023 tax rates for other filers
Find the current tax rates for other filing statuses.
Tax rate | on taxable income from . . . | up to . . . |
---|---|---|
10% | $0 | $22,000 |
12% | $22,001 | $89,450 |
22% | $89,451 | $190,750 |
24% | $190,751 | $364,200 |
32% | $364,201 | $462,500 |
35% | $462,501 | $693,750 |
37% | $693,751 | And up |
Tax rate | on taxable income from . . . | up to . . . |
---|---|---|
10% | $0 | $11,000 |
12% | $11,001 | $44,725 |
22% | $44,726 | $95,375 |
24% | $95,376 | $182,100 |
32% | $182,101 | $231,250 |
35% | $231,251 | $346,875 |
37% | $346,876 | And up |
Tax rate | on taxable income from . . . | up to . . . |
---|---|---|
10% | $0 | $15,700 |
12% | $15,701 | $59,850 |
22% | $59,851 | $95,350 |
24% | $95,351 | $182,100 |
32% | $182,101 | $231,250 |
35% | $231,251 | $578,100 |
37% | $578,101 | And up |
See the tax rates for the 2024 tax year.
Related
Taxable income
How to file your taxes: step by step
IRS provides tax inflation adjustments for tax year 2024
Full 2023 tax tables
Publication 17 (2023), Your Federal Income Tax