Federal Income Tax Rates and Tax Season Tools For 2019 - 2020

Income Tax Brackets Calculator For 2019 - 2020 Tax Season

Tax preparation comes with many challenges, and keeping track of potential tax debt is a big part of it. Fact is, knowing what kind of financial burden you may face with the IRS ahead of time allows for smarter tax planning that will leave you more prepared to meet any financial obligations you may have for income tax payments. Use our newly updated 2019 tax brackets calculator to see how the new rates effect you.

Our Income Tax Brackets tool below is designed to give you a quick reference as to what Uncle Sam may be requesting you to pay for your share of the national tax burden.

This tax bracket and tax rate tool will inform you of the tax rate you pay on each portion of income falling within each tax bracket. Simple right? Ok maybe not, but that's what a tax calculator is for. You can try either of these H&R Block or TurboTax tax calculators for free.

 Calculate Tax Refund FREE with TurboTax

 Calculate Tax Refund FREE with H&R Block

How to use the Tax Brackets Calculator

To use the income tax brackets calculator select the tax year your income was earned, then select your tax filing status to see the tax rates associated with the income you earned.

2019 Tax Bracket Calculator

Trumps Promised Tax Cuts May Benefit Those Who Waited For Lower Tax Rates

Now that the dust has settled from the election of Donald Trump as president elect, and the realization is settling in that Republicans have control over the House and Senate, changes are no doubt coming.

So are tax cuts inevitable? I must say that the likelihood is as strong as it's ever been that we could see lower taxes soon. For that reason, those who are able to, may want to defer some 2017 income on to the 2019 tax year in order to pay less once the tax rates are lowered.

2019 Income Tax Brackets per Filing Status

Rate Individuals Married Filing Jointly
10% Up to $9,525 Up to $19,050
12% $9,526 to $38,700 $19,051 to $77,400
22% 38,701 to $82,500 $77,401 to $165,000
24% $82,501 to $157,500 $165,001 to $315,000
32% $157,501 to $200,000 $315,001 to $400,000
35% $200,001 to $500,000 $400,001 to $600,000
37% over $500,000 over $600,000

Keep in mind that if the bulk of your tax deductions go away, you may not see a dynamic change in your overall tax bill.

So what should you know about tax brackets

The tax bracket you are in generally refers to the tax rate you pay on your highest dollar of taxable income earned. This is not to say that this is the tax rate you pay on all of your income, just the highest rate you pay on any portion of income.

What is your effective tax bracket rate

Generally you will pay income tax at various rates for income falling within various tax brackets, the actual averaged percentage of your earned income that is paid to the IRS is often referred to as your effective tax rate. In turn the tax rate you pay on the last dollar earned is a higher rate than your effective tax rate.

As an example, if one half of your income is taxed at 10 percent, and one half at 15%, then your effective tax rate is 12.5 percent. This means that 12.5 percent of your overall income is paid in taxes.

In the United States, tax brackets are incorporated into our progressive income tax system. This means that the more money you make, the higher the tax rate is on portions of income falling within higher tax bracket. As your earn more income, you gradually move into another tax bracket, and that portion is taxed at the higher level.

Progressive tax brackets and rates are based on the theory that high-income earners can afford to pay higher tax rates.