Tax Brackets
Tax & AccountingMarch 09, 2021

2020-2021 Tax Brackets

Married Filing Jointly (& Surviving Spouse) 

 

2021 TAXABLE INCOME TAX RATE 2020 TAXABLE INCOME TAX RATE
Not over $19,900 10% Not over $19,750
10%
$19,901 - $81,050  12% $19,751 - $80,250  12%
$81,051 - $172,750
22%
$80,251 - $171,050  22% 
$172,751 - $329,850 24% 
$171,051 - $326,600 24%
$329,851 - $418,850 32% 
$326,601 - $414,700  32%
$418,851 - $628,300 35%
$414,701 - $622,050  37%
Over $628,300  37%  Over $622,050 37%

 

 

Married Filing Separately 

 

2021 TAXABLE INCOME TAX RATE 2020 TAXABLE INCOME TAX RATE
Not over $9,950 10% Not over $9,875
10%
$9,951 - $40,525 12% $9,876 - $40,125 12%
$40,526 - $86,375
22%
$40,126 - $85,525 22%
$86,376 - $164,925 24%
$85,526 - $163,300 24%
$164,926 - $209,425 32%
$163,301 - $207,350 32%
$209,426 - $314,150 35%
$207,351 - $311,025 37%
Over $314,150 37% Over $311,025 37%

 

 

Single Filers

 

2021 TAXABLE INCOME TAX RATE 2020 TAXABLE INCOME TAX RATE
Not over $9,950 10% Not over $9,875
10%
$9,951 - $40,525 12% $9,876 - $40,125 12%
$40,526 - $86,375
22%
$40,126 - $85,525 22%
$86,376 - $164,925 24%
$85,526 - $163,300 24%
$164,926 - $209,425 32%
$163,301 - $207,350 32%
$209,426 - $523,600 35%
$207,351 - $518,400 35%
Over $523,600 37% Over $518,400 37%

 

 

 

Head of Household

 

2021 TAXABLE INCOME TAX RATE 2020 TAXABLE INCOME TAX RATE
Not over $14,200 10% Not over $14,100
10%
$14,201 - $54,200 12% $14,101 - $53,700 12%
$54,201 - $86,350
22%
$53,701 - $85,500 22%
$86,351 - $164,900 24%
$85,501 - $163,300 24%
$164,901 - $209,400 32%
$163,301 - $207,350 32%
$209,401 - $523,600 35%
$207,351 - $518,400 35%
Over $523,600 37% Over $518,400 37%

 

 

 

Standard Deduction Amount

 

FILING STATUS 2021 2020 INCREASE
Married Filing Jointly (& Surviving Spouse) $25,100 $24,800
$300
Married Filing Separately $12,550 $12,400 $150
Single
$12,550
$12,400 $150
Head of Household $18,800 $18,650 $150

 

 

 

Standard Deduction for Dependents ("Kiddie" Standard Deduction)

 

2021 2020 INCREASE
$1,100 $1,100
$0

 

 

 

Annual Gift Tax Exemption

 

2021 2020 INCREASE
$15,000 $15,000
$0

 

Source: Wolters Kluwer CCH® AnswerConnect, 2021
Permission for use granted.

Mark Luscombe
Principal Federal Tax Analyst
Mark Luscombe, a CPA and attorney, is the principal federal tax analyst for Wolters Kluwer Tax & Accounting. He is the current chair of the Important Developments Subcommittee of the Partnership Committee of the American Bar Association Tax Section and speaks on a wide range of tax topics. He authors monthly columns in Accounting Today and TAXES magazine. Prior to joining Wolters Kluwer, he was in private practice with several Chicago-area law firms where he specialized in taxation.