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Federal Tax Brackets 2020 for Income Taxes Filed by May 17, 2021 . Tax Bracket. Single. Married Filing Jointly or Qualifying Widow(er) Married Filing Separately. Head of Household. 10%. $0 to ...
To be clear, the following are the tax brackets and marginal tax rates for 2020, which apply to the tax returns that you’re required to file by April 15 of this year. Single Filers 10%: $0-$9,875
The head of household status can lead to a lower taxable income and greater potential refund, but to qualify, you must meet certain criteria.
The origin of the current rate schedules is the Internal Revenue Code of 1986 (IRC), [2] [3] which is separately published as Title 26 of the United States Code. [4] With that law, the U.S. Congress created four types of rate tables, all of which are based on a taxpayer's filing status (e.g., "married individuals filing joint returns," "heads of households").
A taxpayer may also be considered unmarried for head of household purposes if their spouse is a nonresident alien and the taxpayer does not elect to treat the spouse as a resident alien. [7] In that case, the taxpayer can file as a head of household while still being considered married for purposes of the earned income tax credit.
The Tax Tables are in the 2007 1040 Instructions. The Tax Tables list income in $50 increments for all categories of taxpayers, single, married filing jointly, married filing separately, and head of household. For the Taxable Income range of "at least $56,650 but less than $56,700" the tax is $7,718 for a taxpayer who is married filing jointly.
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As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ – see below for explanations of each) used for such returns.