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  2. The 2022 IRS tax tables provide information on the federal income tax rates, deductions, exemptions, and estate and gift taxes123.Some of the key points are123:
    • There are seven federal income tax rates in 2022: 10%, 12%, 22%, 24%, 32%, 35%, and 37%.
    • The income limits for each tax bracket and filing status are adjusted for inflation.
    • The standard deduction for 2022 is $25,900 for married filing jointly, $19,400 for head of household, and $12,950 for single filers.
    • The additional standard deduction for those age 65 and over or the blind is $1,400 or $1,750, depending on the filing status.
    • The personal exemption is eliminated.
    • The estate tax exemption is $12.06 million per individual.
    • The annual exclusion for gifts is $15,000 per recipient.
    Learn more:
    2022 Federal Income Tax Bracket s and Rates In 2022, the income limits for all tax brackets and all filers will be adjusted for inflation and will be as follows (Table 1). There are seven federal income tax rates in 2022: 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent, and 37 percent.
    taxfoundation.org/data/all/federal/2022-tax-brackets/
    The federal tax brackets are broken down into seven (7) taxable income groups, based on your federal filing statuses (e.g. whether you are single, a head of household, married, etc). The federal income tax rates for 2022 did not change from 2021. They are: 10%, 12%, 22%, 24%, 32%, 35%, and 37%, depending on the tax bracket.
    www.irs.com/en/2022-federal-income-tax-brackets …

    Deductions & Exemptions

    • Standard Deduction for 2022 $25,900 – Married filing jointly and surviving spouses $19,400 – Head of Household $12,950 – Unmarried individuals ...
    www.purposefulfinance.org/home/articles/irs-2022 …
     
  3. People also ask
    What is the income tax rate in 2022?In 2022, the income limits for all tax brackets and all filers will be adjusted for inflation and will be as follows (Table 1). There are seven federal income tax rates in 2022: 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent, and 37 percent.
    How do tax tables work in 2022?Tax tables are adjusted each year for inflation. You can find the latest tax table, which you'll use in 2023 to file 2022 taxes on the IRS' website, specifically its publication named Tax Year 2022—1040 and 1040-SR Tax and Earned Income Credit Tables. Tax tables are used to calculate the tax you owe based on your filing status and taxable income.
    What are the tax rates for 2022 & 2023?The income ranges that these rates apply to adjust every year to take inflation into account. Here are the tax rates and federal income brackets for tax years 2022 and 2023. There are seven tax rates that apply to seven brackets of income: 10%, 12%, 22%, 24%, 32%, 35%, and 37%.
    What changes did the IRS make in 2022?The IRS announced rule adjustments in 2022 for more than 60 tax provisions for tax year 2023, including changes to the standard tax deduction and the designation of tax brackets. Inflation, which reached a nearly 40-year high of 8.2 percent at the time of the announcement, fueled the particularly drastic changes for this tax season.
     
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