Here are Your 2015 Federal Income Tax Brackets

The 2015 Federal Income Tax Brackets have been made available by the Internal Revenue Service and it’s official; we give up entirely too much of our hard-earned money. This year, there are 7 tax brackets under which you might fall, and none of them are particularly appealing (unless you’re in the higher brackets and suddenly remember being in the lower tax bracket and how much you might have enjoyed that).  We’re looking at 10, 15, 25, 28, 33, 35, and 39.6% for the year.

The good news is that we all get standard deductions that lower our income significantly, which reduces our tax liability and sometimes allows us to pay less in federal income tax. Those of us who itemize deductions are also eligible to receive some serious leverage, too. And then there is the fact that the IRS likes to use what I call “new math” instead of just making things basic; you don’t pay the full tax on your entire income. You pay a portion of that in one tax bracket, and the rest in another. Doesn’t make sense? Yeah, we don’t get it either, but here you go.

Let’s say you make $32,000 in taxable income every year. This puts you into the 15% tax bracket, but you actually pay only 15% on $22,775 of that since the remainder of your $9,225 is in the 10% tax bracket so you pay that much on that amount. Does that make more sense? I didn’t think so. Let’s just get to the point.

Single Taxpayers
$0 to $9,225 – 10%
$9,226 to $37,450 – $922.50 plus 15% of the amount over $9,225
$37,451 to $90,750 – $5,156.25 plus 25% of the amount over $37,450
$90,751 to $189,300 –  $18,481.25 plus 28% of the amount over $90,750
$189,301 to $411,500 – $46,075.25 plus 33% of the amount over $189,300
$411,501 to $413,200–  $119,401.25 plus 35% of the amount over $411,500
$413,201 or more – $119,996.25 plus 39.6% of the amount over $413,200

Married Filing Jointly or Qualifying Widow(er)

$0 to $18,450 – 10%
$18,451 to $74,900 – $1,845.00 plus 15% of the amount over $18,450
$74,901 to $151,200 – $10,312.50 plus 25% of the amount over $74,900
$151,201 to $230,450 – $29,387.50 plus 28% of the amount over $151,200
$230,451 to $411,500 – $51,577.50 plus 33% of the amount over $230,450
$411,501 to $464,850 – $111,324.00 plus 35% of the amount over $411,500
$464,851 or more – $129,996.50 plus 39.6% of the amount over $464,850
Married Filing Separately

$0 to $9,225 – 10%
$9,226 to $37,450 – $922.50 plus 15% of the amount over $9,225
$37,451 to $75,600 – $5,156.25 plus 25% of the amount over $37,450
$75,601 to $115,225 – $14,693.75 plus 28% of the amount over $75,600
$115,226 to $205,750 – $25,788.75 plus 33% of the amount over $115,225
$205,751 to $232,425 – $55,662.00 plus 35% of the amount over $205,750
$232,426 or more – $64,998.25 plus 39.6% of the amount over $232,425
Head of Household

$0 to $13,150 – 10%
$13,151 to $50,200 – $1,315.00 plus 15% of the amount over $13,150
$50,201 to $129,600 – $6,872.50 plus 25% of the amount over $50,200
$129,601 to $209,850 – $26,772.50 plus 28% of the amount over $129,600
$209,851 to $411,500 – $49,192.50 plus 33% of the amount over $209,850
$411,501 to $439,000 – $115,737.00 plus 35% of the amount over $411,500
$439,001 or more – $125,362.00 plus 39.6% of the amount over $439,000

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