Tax Brackets 2020-21. Based on your annual taxable income and filing status, your tax bracket determines your federal tax rate. The tax bracket ranges also differ depending on your filing status.

For 2021, the tax bracket thresholds were increased by approximately 1% over 2020 levels.

2020 tax brackets | 2020 federal income tax brackets & rates. Doing your taxes can be, well, taxing. 2020 tax brackets (irs federal income tax rates table). For 2021, the tax bracket thresholds were increased by approximately 1% over 2020 levels. So for the 2020/21 tax year, which ends on 5 april, the deadline will be 31 january 2022. Compare those 2020 federal tax brackets and tax rates to the 2021 tax brackets and their marginal tax rates. To be clear, the following are the tax brackets and marginal. 2020 federal income tax brackets. The internal revenue service adjusted income tax brackets on 2020 earnings and raised standard deductions for single filers and couples filing jointly. There are seven brackets that apply to taxpayers' ordinary income: Your 2020 tax bracket and federal tax rate are both crucial pieces of information if you want to keep as much of your money as possible.