2016 Tax Rates & 2016 Tax Brackets

Posted by Madison on August 1, 2016

What do the 2016 tax rates and 2016 tax brackets look like?

2016 tax rates are used to file your 2016 tax return due in 2017.

A few years ago the fiscal cliff deal made the tax bracket structure permanent. The 2016 income tax brackets will continue to keep the 10%, 15%, 25%, 28%, 33%, 35% and 39.6% tax brackets in place from last year.

2016 Tax Rates & Tax Brackets (Taxes Due April 2017)

Tax Rates

The IRS released the final 2016 tax brackets. Here are the federal 2016 tax tables:

 
Tax Rate Single Married Filing Joint Married Filing Separate Head of Household
10% Up to $9,275 Up to $18,550 Up to $9,275 Up to $13,250
15% $9,276 – $37,650 $18,551 – $75,300 $9,276 – $37,650 $13,251 – $50,400
25% $37,651 – $91,150 $75,301 – $151,900 $37,651 – $75,950 $50,401 – $130,150
28% $91,151 – $190,150 $151,901 – $231,450 $75,951 – $115,725 $130,151 – $210,800
33% $190,151 – $413,350 $231,451 – $413,350 $115,726 – $206,675 $210,801 – $413,350
35% $413,351 – $415,050 $413,351- $466,950 $206,676 – $233,475 $413,351 – $441,000
39.6% Over $415,050 Over $466,950 Over $233,475 Over $441,000

The 2016 federal tax tables are based on your filing status for the 2016 calendar year.

2016 Tax Rates

The 2016 federal tax tables are based on your filing status and number of dependents for the 2016 calendar year.

In addition, the Health Insurance Premium Tax Credit and Tax Penalty for No Health Insurance from last year will continue to apply to your taxes based on your Modified Adjusted Gross Income in 2016.

More on Tax Brackets

The tax bracket you fall in is a marginal tax rate and it doesn’t apply to all of your income. For more information, see How Do Tax Brackets Work?

In addition to the tax brackets and 2016 federal tax tables above, you may owe tax under the alternative minimum tax. You can review the AMT exemption to see if it will apply to you.

To compare 2016 tax brackets to next year, see What Might the 2017 Tax Rates Look Like?.

Tax Calculator

To figure out what your taxes currently look like, you can use the Tax Calculator.



Get your biggest tax refund, guaranteed. Plus FREE Expert Tax Advice. File your Federal tax return for FREE today with TurboTax!




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