The Tax Cuts and Jobs Act has changed the individual income tax rate structure. For tax years beginning after December 31, 2017, and before January 1, 2026, taxable income will be subject to the seven tax brackets described below, taxed at 10%, 12%, 22%, 24%, 32%, 35%, and 37% marginal tax rates. The tax brackets described below are the Federal Income Tax Rates for 2018. The income levels will be annually indexed for inflation.

Barring further legislation, the new tax rates and brackets will expire (sunset) after 2025 and the rates and brackets (10%, 15%, 25%, 28%, 33%, 35%, and 39.6%) will once again be in place under the pre-Tax Cuts and Jobs Act law. The new income tax brackets will lower tax rates for many income levels, but due to various other changes (standard deduction increase, suspension of personal exemptions, tax credit changes, etc.) the actual impact on households may increase or decrease.

 

Single Individuals Income Tax Rates

If taxable income is: The tax is:
Not over $9,525 10% of taxable income
Over $9,525 but not over $38,700 $952.50 plus 12% of the excess over $9,525
Over $38,700 but not over $82,500 $4,453.50 plus 22% of the excess over $38,700
Over $82,500 but not over $157,500 $14,089.50 plus 24% of the excess over $82,500
Over $157,500 but not over $200,000 $32,089.50 plus 32% of the excess over $157,500
Over $200,000 but not over $500,000 $45,689.50 plus 35% of the excess over $200,000
Over $500,000 $150,689.50 plus 37% of the excess over $500,000

Married Filing Jointly and Surviving Spouse Income Tax Rates

If taxable income is: The tax is:
Not over $19,050 10% of taxable income
Over $19,050 but not over $77,400 $1,905 plus 12% of the excess over $19,050
Over $77,400 but not over $165,000 $8,907 plus 22% of the excess over $77,400
Over $165,000 but not over $315,000 $28,179 plus 24% of the excess over $165,000
Over $315,000 but not over $400,000 $64,179 plus 32% of the excess over $315,000
Over $400,000 but not over $600,000 $91,379 plus 35% of the excess over $400,000
Over $600,000 $161,379 plus 37% of the excess over $600,000

Married Filing Separate Income Tax Rates

If taxable income is: The tax is:
Not over $9,525 10% of taxable income
Over $9,525 but not over $38,700 $952.50 plus 12% of the excess over $9,525
Over $38,700 but not over $82,500 $4,453.50 plus 22% of the excess over $38,700
Over $82,500 but not over $157,500 $14,089.50 plus 24% of the excess over $82,500
Over $157,500 but not over $200,000 $32,089.50 plus 32% of the excess over $157,500
Over $200,000 but not over $300,000 $45,689.50 plus 35% of the excess over $200,000
Over $300,000 $80,689.50 plus 37% of the excess over $300,000

Head of Household Income Tax Rates

If taxable income is: The tax is:
Not over $13,600 10% of taxable income
Over $13,600 but not over $51,800 $1,360 plus 12% of the excess over $13,600
Over $51,800 but not over $82,500 $5,944 plus 22% of the excess over $51,800
Over $82,500 but not over $157,500 $12,698 plus 24% of the excess over $82,500
Over $157,500 but not over $200,000 $30,698 plus 32% of the excess over $157,500
Over $200,000 but not over $500,000 $44,298 plus 35% of the excess over $200,000
Over $500,000 $149,298 plus 37% of the excess over $500,000

View 2017 Individual Income Tax Rates

Read More Information on Tax Reform

CLICK HERE

Print Friendly, PDF & Email
Curt Bach
I joined Hawkins Ash CPAs in August 2010, and am currently a manager in the firm’s Medford office. I provide a variety of tax services, including trust and estate tax preparation and planning. I have more than nine years of experience providing audit and tax services to nonprofit organizations, governmental entities and small businesses. I am a member of our firm’s tax committee and not-for-profit service group.

Your Name (required)

Your Email (required)

Your Message

Are you human?


T: 800.658.9077
E: info@hawkinsashcpas.com

Locations

Your Name (required)

Your Email (required)

Your Message

Are you human?


T: 800.658.9077
E: info@hawkinsashcpas.com

Locations