Tax Rates

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Estimated Income Tax Brackets and Rates

2020 Taxable Income Brackets and Rates
(Estimates)
RateSingle FilersMarried Joint FilersHeads of Households Filers
10%Up to $9,875Up to $19,750Up to $14,100
12%$9,876 to $40,125$19,751 to $80,250$14,101 to $53,700
22%$40,126 to $85,525$80,251 to $171,050$53,701 to $85,500
24%$85,526 to $163,300$171,051 to $326,600$85,501 to $163,300
32%$163,301 to $207,350$326,601 to $414,700$163,301 to $207,350
35%$207,351 to $518,400$414,701 to $622,050$207,351 to $518,400
37%$518,401 or more$622,051 or more$518,401 or more

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Note: You must file a return if your gross income was at least the amount shown in the last column.

Filing Requirements For Most Taxpayers

IF your filing status is. . .AND at the end of 2019
you were . . .
THEN file a return if your gross income was at least. . .
Singleunder 65$12,200
65 or older$13,850
Head of householdunder 65$18,650
65 or older$20,000
Married filing jointlyunder 65 (both spouses)$24,400
65 or older (one spouse)$25,700
65 or older (both spouses)$27,000
Married filing separatelyany age (if your spouse itemizes deductions)$5
Qualifying widow(er)
with dependent child
under 65$24,400
65 or older$25,700

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NOTE: If you claim the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) on your tax return, the IRS must hold your refund until at least February 15.  (Click for more details)

Earned Income Tax Credit

2020 Earned Income Tax Credit Parameters (Estimates)
Filing Status No ChildrenOne ChildTwo ChildrenThree or More Children
Single or Head of HouseholdIncome at Max Credit

$7,030

$10,540

$14,800

$14,800

 Maximum Credit

$538

$3,584

$5,920

$6,660

 Phaseout Begins

$8,790

$19,330

$19,330

$19,330

 Phaseout Ends (Credit Equals Zero)

$15,820

$41,756

$47,440

$50,954

      
Married Filing JointlyIncome at Max Credit

$7,030

$10,540

$14,800

$14,800

 Maximum Credit

$538

$3,584

$5,920

$6,660

 Phaseout Begins

$14,680

$25,220

$25,220

$25,220

 Phaseout Ends (Credit Equals Zero)

$21,710

$47,646

$53,330

$56,844

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Standard Deduction and Personal Exemption

2020 Standard Deduction and Personal Exemption (Estimate)
Filing StatusDeduction Amount
Single $12,400.00
Married Filing Jointly $24,800.00
Head of Household $18,650.00
Married Filing Separately $12,400.00
Personal Exemption Eliminated

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Alternative Minimum Tax

2020 Alternative Minimum Tax Exemptions (Estimate)
Filing StatusExemption Amount
Single $72,900.00
Married Filing Jointly $113,400.00
Married Filing Separately $56,700.00
Trust & Estates $25,400.00