2019 & 2020 Tax Brackets & Standard Deductions

The IRS has released the 2020 tax brackets (a bracketed rate table for the IRS federal income tax rates) and standard deduction amounts, and there are a number of inflation adjustments over the 2019 tax brackets and standard deductions.




Since we’re still focused on 2019 for tax filing purposes, the 2019 tax brackets are going to be of most interest to you when you do your upcoming taxes, so I have included those as well. Armed with the below information, it would be an excellent time to calculate what your modified adjusted gross income will likely be next year and modify your tax allowances on your W4 form. This will help prevent being penalized for underpayment of taxes or getting a refund (which is really a form of self penalization by letting the government borrow your money, interest-free).

With the Tax Cut & Jobs Act (tax reform), the 2019 and 2020 tax brackets, tax rates, and standard deduction amounts have all been heavily revised from pre-reform levels. Barring further legislative changes, these brackets will continue through 2025.

Here is an overview of what will be covered in this article:

2019 Tax Brackets (IRS Federal Income Tax Rates Table)

In the tables below, it is important to note that the highlighted rates represent the income tax rate owed for the portion of your taxable income that falls into that bracket. As an example, if you are single and your taxable income is $50,000, your tax tax rate on your first $9,700 of taxable income is 10%, taxable income between $9,700 and $39,475 is taxed at 12%, and income from $39,475 to $50,000 would be taxed at 22%.

tax brackets

Many taxpayers incorrectly assume that if your total income peaks at the 35% tax bracket, for example, then all of your income is taxed at that rate. This is not true. The United States federal income tax system is a “progressive” tax system, which means that your effective (actual) tax rate is less than the tax rate in the top bracket you are in. With that in mind, here are the 2019 tax brackets:




Tax RatesSingle Filer Tax BracketsMarried Filing Jointly Tax BracketsMarried Filing Separately Tax BracketsHead of Household Tax Brackets
10%$0-$9,700$0-$19,400$0-$9,700$0-$13,850
12%$9,700-$39,475$19,400-$78,950$9,700-$39,475$13,850-$52,850
22%$39,475-$84,200$78,950-$168,400$39,475-$84,200$52,850-$84,200
24%$84,200-$160,725$168,400-$321,450$84,200-$160,725$84,200-$160,700
32%$160,725-$204,100$321,450-$408,200$160,725-$204,100$160,700-$204,100
35%$204,100-$510,300$408,200-$612,350$204,100-$306,175$204,100-$510,300
37%$510,300+$612,350+$306,175+$510,300+

2019 Standard Deductions & Dependent Exemptions

standard deductionStandard deductions can lower your taxable income by allowing you to deduct from your taxable income, if you decide not to itemize taxes.

Aside from the standard deductions, there are income tax exemptions that can be claimed, whether you itemize your taxes or take the standard deduction.

You can claim an exemption for each dependent, but note that with tax reform the personal exemption had been completely eliminated, as of 2018. Also, note that a spouse can never be claimed as a dependent.

Here are the 2019 standard deduction and exemption amounts:

Filing Status:Deduction Amount:
Single$12,200
Married Filing Separately$12,200
Married Filing Jointly$24,400
Head of Household$18,350
Personal Exemption$0

2020 Tax Brackets (IRS Federal Income Tax Rates Table)

Here are the new 2020 tax brackets:

Tax RatesSingle Filer Tax BracketsMarried Filing Jointly Tax BracketsMarried Filing Separately Tax BracketsHead of Household Tax Brackets
10%$0-$9,875$0-$19,750$0-$9,875$0-$14,100
12%$9,875-$40,125$19,750-$80,250$9,875-$40,125$14,100-$53,700
22%$40,125-$85,525$80,250-$171,050$40,125-$85,525$53,700-$85,500
24%$85,525-$163,300$171,050-$326,600$85,525-$163,300$85,500-$163,300
32%$163,300-$207,350$326,600-$414,700$163,300-$207,350$163,300-$207,350
35%$207,350-$518,400$414,700-$622,050$207,350-$311,025$207,350-$518,400
37%$518,400+$622,050+$311,025+$518,400+

2020 Standard Deductions & Exemptions

And here are the 2020 standard deduction and exemption amounts:

Filing Status:Deduction Amount:
Single$12,400
Married Filing Separately$12,400
Married Filing Jointly$24,800
Head of Household$18,650
Personal Exemption$0

For more information, check out the IRS website and my “how to do your taxes” guide.

My overview of the Earned Income Tax Credit may be of interest as well.

Tax Rate Discussion

  • Which tax bracket will you top out in for this year and what are you predicting for 2020?
  • Will you be itemizing or taking the standard deduction?

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