2023 Tax Brackets vs 2022 Tax Brackets

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With inflation going up, people get pushed into higher income tax brackets as well. To regulate the impact of inflation, the income tax bracket gets adjusted by the IRS for each category.

Before 2018, the IRS used to adjust these brackets by CPI (Consumer Price Index). With changes in TCJA, now it uses C-CPI (Chained Consumer Price Index) to adjust tax brackets.

However, Tax rates (10%, 12%, 22%, 24%, 32%, 35%, and 37%) maintain the same percentage in 2023 as well, and they have NOT changed since 2018.

Also Read Previous Years Tax Brackets Comparison:

Single Tax Payers

Following are some of the insights into the tax bracket 2023 for single taxpayers:

  • Tax Rates do NOT change in the year 2023 for single taxpayers, however, inflation adjustments happen in all the Tax Brackets.
  • As the tax bracket increases, the tax bracket adjustment increases as well.
  • The lowest increase (+$725) appears in the first tax bracket ($0 to $10,275).
  • The highest increase (+$38225) appears in the last tax bracket ($539,901 and upwards).

2022 Tax Rate2022 Tax Bracket2023 Tax Rate2023 Tax BracketTax Bracket Difference
10%Up to $10,27510%Up to $11,000Top: 0 Bottom: +$725
12%$10,276-$41,77512%$11,001 to $44,725Top: +$725 Bottom: +$2950
22%$41,776-$89,07522%$44,726 to $95,375Top: +$2950
Bottom: +$6300
24%$89,076-$170,05024%$95,376 to $182,100Top: +$6300
Bottom: +$12050
32%$170,051-$215,95032%$182,101 to $231,250Top: +$12050
Bottom: +$15300
35%$215,951-$539,90035%$231,251 to $578,125Top: +$15300
Bottom: +$38225
37%$539,901 or Above37%$578,126 or AboveTop: +$38225

Married Couples Filing Jointly or Qualifying Widow

Following are some of the insights into the 2023 tax brackets for married couples filing jointly:

  • Tax Rates do NOT change in the year 2023 for married couples filing jointly, however, inflation adjustments happen in all the Tax Brackets.
  • As the tax bracket increases, the tax bracket adjustment increases as well.
  • The lowest increase ($1,450) appears in the first tax bracket ($0 to $22,000).
  • The highest increase (+$45,900) appears in the last tax bracket $693,751 and upwards).

2022 Tax Rate2022 Tax Bracket2023 Tax Rate2023 Tax BracketTax Bracket Difference
10%Up to $20,550Up to $22,00010%Top: 0 Bottom: +$1,450
12%$20,551-$83,550$22,001 to $89,45012%Top: +$1,450 Bottom: +$5,900
22%$83,551-$178,150$89,451 to $190,75022%Top: +$5,900 Bottom: +$12,600
24%$178,151-$340,100$190,751 to $364,20024%Top: +$12,600 Bottom: +$24,100
32%$340,101-$431,900$364,201 to $462,50032%Top: +$24,100 Bottom: +$30,600
35%$431,901-$647,850$462,501 to $693,75035%Top: +$30,600 Bottom: +$45,900
37%$647,851 or Above$693,751 or Above37%Start: +$45,900

Married Couples Filing Separately

Following are some of the insights into the 2023 Tax Brackets for Married Couples Filing Separately:

  • Tax Rates do NOT change in the year 2023 for Married Couples Filing Separately, however, inflation adjustments happen in all the Tax Brackets.
  • As the tax bracket increases, the tax bracket adjustment increases as well.
  • The lowest increase (+$725) appears in the first tax bracket ($0 to $$11,000).
  • The highest increase (+$13,950) appears in the last tax bracket ($346,876 and upwards).

2022 Tax Rate2022 Tax Bracket2023 Tax Rate2023 Tax BracketTax Bracket Difference
10%Up to $10,27510%Up to $11,000Top: 0 Bottom: +$725
12%$10,276-$41,77512%$11,001-$44,725Top: +$725 Bottom: +$2,950
22%$41,776-$89,07522%$44,726-$95,375Top: +$2,950 Bottom: +$6,300
24%$89,076-$170,05024%$95,376-$182,100Top: +$6,300 Bottom: +$12,050
32%$170,051-$215,95032%$182,101-$231,250Top: +$12,050 Bottom: +$15,300
35%$215,951-$323,92535%$231,251-$346,875Top: +$15,300 Bottom: +$22,950
37%$332,926 or Above37%$346,876 or AboveTop: +$13,950

Head of the Household

Following are some of the insights into the 2023 tax brackets for Head of the Household:

  • Tax Rates do NOT change in the year 2023 for the Head of the Household, however, inflation adjustments happen in all the Tax Brackets.
  • As the tax bracket increases, the tax bracket adjustment increases as well.
  • The lowest increase (+$1,050) appears in the first tax bracket (Up to $15,700).
  • The highest increase (+$38,200) appears in the last tax bracket ($578,101 and upwards).

2022 Tax Rate2022 Tax Bracket2023 Tax Rate2023 Tax BracketTax Bracket Difference
10%Up to $14,65010%Up to $15,700Top: 0 Bottom: +$1,050
12%$14,651-$55,90012%$15,701-$59,850Top: +$1,050 Bottom: +$3,950
22%$55,901-$89,05022%$59,851-95,350Top: +$3,950 Bottom: +$6,300
24%$89,051-$170,05024%$95,351-$182,100Top: +$6,300 Bottom: +$12,050
32%$170,051-$215,95032%$182,101-$231,250Top: +$12,050 Bottom: +$15,300
35%$215,951-$539,90035%$231,251-$578,100Top: +$15,300 Bottom: +$38,200
37%$539,901 or Above37%$578,101 or AboveTop: +$38,200

How to File Your Taxes

Following are some of the steps to file your taxes:

  • Step 1: Decide your income tax bracket.
  • Step 2: Decide your tax rate for the respective tax bracket.
  • Step 3: Find the relevant tax forms.
  • Step 4: Consult a CPA, filing your taxes with inaccurate processes may result in penalties.

Find out 2023 Tax Due Dates & Deadlines

It is also important to find the possible tax deductions and credits that you may claim to avoid paying extra taxes and save money. To claim these tax write-offs, contact a tax consultant who can save your money with his/her expertise.

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