Federal Income Tax Brackets

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The U.S. imposes an income tax using progressive rates. An individual's tax liability gradually increases as their income increases. There are seven marginal tax rates or brackets as of 2021: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. The income that these rates apply to adjusts every year to take inflation into account.

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Original Article Source Credits:   The Balance , https://www.thebalance.com/

Article Written By:  William Perez

Original Article Posted on:  January 15, 2021

Link to Original Article:  https://www.thebalance.com/federal-income-tax-brackets-3193155