Comparison of 2020 Tax Brackets Vs 2019 Tax Brackets

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The 2020 tax brackets in comparison to 2019 tax brackets increased around 2% due to indexing. The new tax law passed in 2017 maintains the 10% tax rate base line for earners in the lower spectrum but slashes the high-income tax rates from 39.6% to 37% starting in 2018.

Find out 2020 Tax due dates and deadlines

You can find out more on the comparion of tax brackets for 2019 vs 2018 and  difference between 2017 and 2018 tax brackets.

Single tax payers

2020 Tax Rate 2020 Income Bracket | 2019 Rate 2019 Income Bracket
10% Up to $9,875 | 10% Up to $9,700
12% $9,876-$40,125 | 12% $9,701-$39,475
22% $40,126-$85,525 | 22% $39,476-$84,200
24% $85,526 – $163,300 | 24% $84,201 – $160,725
32% $163,301-$207,350 | 32% $160,726-$204,100
35% $207,351-$518,400 | 35% $204,101-$510,300
37% $518,401+ | 37% $510,301+

 

Married couples filing jointly or Qualifying Widow

2020 Tax Rate 2020 Income Bracket | 2019 Rate 2019 Income Bracket
10% Up to $19,750 | 10% Up to $19,400
12% $19,751-$80,250 | 12% $19,401-$78,950
22% $80,251-$171,050 | 22% $78,951-$168,400
24% $171,051-$326,600 | 24% $168,401-$321,450
32% $326,601-$414,700 | 32% $321,451-$408,200
35% $414,701-$622,050 | 35% $408,001-$612,350
37% $622,051+ | 37% $612,351+


Married couple filing separately

2020 Tax Rate 2020 Income Bracket | 2019 Rate 2019 Income Bracket
10% Up to $9,875 | 10% Up to $9,700
12% $9,876-$40,125 | 12% $9,701-$39,475
22% $40,126-$85,525 | 22% $39,476-$84,200
24% $85,526 – $163,300 | 24% $84,201 – $160,725
32% $163,301-$207,350 | 32% $160,726-$204,100
35% $207,351-$311,025 | 35% $204,101-$306,175
37% $311,026+ | 37% $306,176+

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Heads of the household

2020 Tax Rate 2020 Income Bracket | 2019 Rate 2019 Income Bracket
10% Up to $14,100 | 10% Up to $13,850
12% $14,100-$53,700 | 12% $13,851-$52,850
22% $53,700-$85,500 | 22% $52,851-$84,200
24% $85,501-$163,300 | 24% $84,201-$160,725
32% $163,301-$207,350 | 32% $160,726-$204,100
35% $207,350-$518,400 | 35% $204,101-$510,300
37% $518,401+ | 37% $510,301+

You can also read about 2018 Tax Reform – Business Interest Deduction, Section 199A – Impact on Small and Pass-through business or 2018 Tax law update for Individuals. Contact us to learn more about our services.

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