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- The 12 percent tax bracket is the second-lowest income tax rate in the US federal tax system12. It applies to taxable income above $10,275 for single filers and above $19,401 for married couples filing jointly12. The 12 percent tax rate only applies to the income within this bracket, not the entire income. The income below this bracket is taxed at 10 percent, and the income above this bracket is taxed at higher rates depending on the income level12.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.
As the yearly income increases, you'll owe the following for each tax bracket:
- 10% from $0-$19,400, or $1,940
- 12% from $19,401-$78,950, or $7,145.88
- 22% from $78,951-$168,400, or $19,678.78
- 24% from $168,401-$321,450, or $36,731.76
www.thestreet.com/taxes/tax-brackets-14721572Single filers with less than $10,275 in taxable income are subject to a 10% income tax rate (the lowest bracket). Single filers who earn more than $10,275 will have the first $10,275 taxed at 10%, but earnings beyond the first bracket and up to $41,775 will be taxed at a 12% rate (the next bracket).
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