Federal Income Tax Rates for 2017
Federal Income Tax Rates for 2017
The Federal income tax is made up of 7 rate brackets (10%, 15%, 25%, 28%, 33%, 35%, and 39.6%).
Only the income you earn within a specific bracket is subject to that specific tax rate – therefore, moving into a higher tax bracket does not make all of your income taxable at a higher rate.
The amount of tax you owe the IRS each year is based on your income level and your filing status.