Before the TCJA was passed, the IRS adjusted the rates and brackets for inflation using the Consumer Price Index (CPI). Once the act was passed, the IRS began using the Chained Consumer Price Index (C-CPI) to adjust.
There are still seven separate income tax brackets. In 2018, most of the rates were lowered for each income bracket, meaning many taxpayers paid less income tax.
In 2020, the rates stayed the same, but now include a different equation for calculating your clients’ income tax. The brackets also expanded. This chart is included below for your reference. When you prepare returns using TaxSlayer Pro, the software will perform these calculations for you. If you want to have these charts available at a glance, print this article to keep at your desk.
Single Filers
| 2019 Rates & Brackets | 2020 Rates & Brackets | ||
| Taxable Income Between | Tax Due | Taxable Income Between | Tax Due |
| $0-$9,700 | 10% of taxable income | $0-$9,875 | 10% of taxable income |
| $9,701-$39,475 | $970 + 12% of the amount over $9,700 | $9,875-$40,125 | $987.50 + 12% of the amount over $9,875 |
| $39,476-$84,200 | $4,543 + 22% of the amount over $39,475 | $40,126-$85,525 | $4,617.50 + 22% of the amount over $40,125 |
| $84,201-$160,725 | $14,382.50 + 24% of the amount over $84,200 | $85,526-$163,300 | $14,605.50 + 24% of the amount over $85,525 |
| $160,726-$204,100 | $32,748.50 + 32% of the amount over $160,725 | $163,301-$207,350 | $33,271.50 + 32% of the amount over $163,300 |
| $204,101-$510,300 | $46,628.50 + 35% of the amount over $204,100 | $207,351-$518,400 | $47,367.50 + 35% of the amount over $207,350 |
| $510,301+ | $153,798.50 + 37% of the amount over $510,300 | $518,401+ | $156,235.50 + 37% of the amount over $518,400 |
Married Filing Separately
| 2019 Rates & Brackets | 2020 Rates & Brackets | ||
| Taxable Income Between | Tax Due | Taxable Income Between | Tax Due |
| $0-$9,700 | 10% of taxable income | $0-$9,875 | 10% of taxable income |
| $9,701-$39,475 | $970 + 12% of the amount over $9,700 | $9,875-$40,125 | $987.50 + 12% of the amount over $9,875 |
| $39,476-$84,200 | $4,543 + 22% of the amount over $39,475 | $40,126-$85,525 | $4,617.50 + 22% of the amount over $40,125 |
| $84,201-$160,725 | $14,382.50 + 24% of the amount over $84,200 | $85,526-$163,300 | $14,605.50 + 24% of the amount over $85,525 |
| $160,726-$204,100 | $32,748.50 + 32% of the amount over $160,725 | $163,301-$207,350 | $33,271.50 + 32% of the amount over $163,300 |
| $204,101-$306,175 | $46,628.50 + 35% of the amount over $204,100 | $207,351-$311,025 | $47,367.50 + 35% of the amount over $207,350 |
| $306,176+ | $82,354.75 + 37% of the amount over $306,176 | $311,026+ | $83,653.75 + 37% of the amount over $311,025 |
Married Filing Jointly (and Qualifying Widow/ers with Dependent)
| 2019 Rates & Brackets | 2020 Rates & Brackets | ||
| Taxable Income Between | Tax Due | Taxable Income Between | Tax Due |
| $0-$19,400 | 10% of taxable income | $0 to $19,750 | 10% of taxable income |
| $19,401-$78,950 | $1,940 + 12% of the amount over $19,400 | $19,751 to $80,250 | $1,975 plus 12% of the amount over $19,750 |
| $78,951-$168,400 | $9,086 + 22% of the amount over $78,950 | $80,251 to $171,050 | $9,235 plus 22% of the amount over $80,250 |
| $168,401-$321,450 | $28,765 + 24% of the amount over $168,400 | $171,051 to $326,600 | $29,211 plus 24% of the amount over $171,050 |
| $321,451-$408,200 | $65,497 + 32% of the amount over $321,450 | $326,601 to $414,700 | $66,543 plus 32% of the amount over $326,600 |
| $408,201-$612,350 | $93,257 + 35% of the amount over $408,200 | $414,701 to $622,050 | $94,735 plus 35% of the amount over $414,700 |
| $612,351+ | $164,709.50 + 37% of the amount over $612,350 | $622,051+ | $167,307.50 plus 37% of the amount over $622,050 |
Head of Household
| 2019 Rates & Brackets | 2020 Rates & Brackets | ||
| Taxable Income Between | Tax Due | Taxable Income Between | Tax Due |
| $0-$13,850 | 10% of taxable income | $0 to $14,100 | 10% of taxable income |
| $13,851-$52,850 | $1,385 + 12% of the amount over $13,850 | $14,101 to $53,700 | $1,410 plus 12% of the amount over $14,100 |
| $52,851-$84,200 | $6,065 + 22% of the amount over $52,850 | $53,701 to $85,500 | $6,162 plus 22% of the amount over $53,700 |
| $84,201-$160,700 | $12,962 + 24% of the amount over $84,200 | $85,501 to $163,300 | $13,158 plus 24% of the amount over $85,500 |
| $160,701-$204,100 | $31,322 + 32% of the amount over $160,700 | $163,301 to $207,350 | $31,830 plus 32% of the amount over $163,300 |
| $204,001-$510,300 | $45,210 + 35% of the amount over $204,100 | $207,351 to $518,400 | $45,926 plus 35% of the amount over $207,350 |
| $510,301+ | $152,380 + 37% of the amount over $510,300 | $518,401+ | $154,793.50 plus 37% of the amount over $518,400 |
