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  • Melanie Mackenzie

IRS have announced 2020 Federal Individual Tax Rates & Income Brackets

Updated: Sep 1

2020's Federal Tax Rates and Income Brackets were released last week by the IRS. These will impact the rates for 2020 tax return filings, to be filed in 2021.


Oh I do love it when the new tax income brackets come out, it feels like a mini pay raise :) ... well until the crunch of inflation comes along and munches it all up... regardless, below are some highlights of the updates to the 2020 Federal Tax Rates & Income Brackets, Standard Deduction, and more:


The 2020 Federal tax rates of 10%-37% have remained the same, however the Income brackets have changed from 2019 depending on your income and filing status as follows:

For married individuals filing jointly:


10%: Taxable income up to $19,750

12%: Income between $19,750 to $80,250

22%: Income between $80,250 to $171,050

24%: Income between $171,050 to $326,600

32%: Income between $326,600 to $414,700

35%: Income between $414,700 to $622,050

37%: Income over $622,050

For unmarried individuals:


10%: Up to $9,875

12%: Income between $9,875 to $40,125

22%: Income between $40,125 to $85,525

24%: Income between $85,525 to $163,300

32%: Income between $163,300 to $207,350

35%: Income between $207,350 to $518,400

37%: Income over $518,400

For heads of households:


10%: Up to $14,100

12%: Income between $14,100 to $53,700

22%: Income between $53,700 to $85,500

24%: Income between $85,500 to $163,300

32%: Income between $163,300 to $207,350

35%: Income between $207,350 to $518,400

37%: Income over $518,400

For married individuals filing separately:


10%: Up to $9,875

12%: Income between $9,875 to $40,125

22%: Income between $40,125 to $85,525

24%: Income between $85,525 to $163,300

32%: Income between $163,300 to $207,350

35% Income between $207,350 to $311,025

37%: Income over $311,025

And here are the standard deduction amounts for 2020:


Married individuals filing jointly: $24,800

Unmarried individuals: $12,400

Heads of households: $18,650

Married individuals filing separately: $12,400


State Individual tax rates and income tax brackets are dependent on the State you are required to file in (if at all). Usually the Individual State Tax Department is best placed to provide you with this information - see here for a useful linked summary table of the State tax Departments.

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