This tax resources page is updated frequently to reflect the most current tax figures, news and law.
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Standard Deductions
| Filing Status | 2022 | 2023 |
|---|---|---|
| Single | $12,950 | $13,850 |
| Married filing jointly | $25,900 | $27,700 |
| Head of household | $19,400 | $20,800 |
| Married filing separately | $12,950 | $13,850 |
2023 Tax Rates
| Marginal Tax Bracket | Taxable Income | Tax Owed |
|---|---|---|
| 10% | $0 – $11,000 | 10% of taxable income |
| 12% | $11,001 – $44,725 | $1,100 plus 12% of income over $11,00 |
| 22% | $44,726 – $95,375 | $5,417 plus 22% of income over $44,725 |
| 24% | $95,376 – $182,100 | $16,290 plus 24% of income over $95,375 |
| 32% | $182,101 – $231,250 | $37,104 plus 32% of income over $182,100 |
| 35% | $231,251 – $578,125 | $52,832 plus 35% of income over $231,250 |
| 37% | $578,126 or more | $74,238.25 plus 37% of income over $578,125 |
| Marginal Tax Bracket | Taxable Income | Taxes Owed |
|---|---|---|
| 10% | $0 – $22,000 | 10% of taxable income |
| 12% | $22,000 – $89,450 | $2,200 plus 12% of income over $22,000 |
| 22% | $89,451 – $190,750 | $10,294 plus 22% of income over $89,450 |
| 24% | $190,751 – $364,200 | $32,580 plus 24% of income over $190,750 |
| 32% | $364,201 – $462,500 | $74,208 plus 32% of income over $364,200 |
| 35% | $462,501 – $693,750 | $105,664 plus 35% of income over $462,500 |
| 37% | $693,751 or more | $186,601.50 plus 37% of income over $693,750 |
| Marginal Tax Bracket | Taxable Income | Taxes Owed |
|---|---|---|
| 10% | $0 – $14,650 | 10% of taxable income |
| 12% | $14,651 – $55,900 | $1,465 plus 12% of income over $14,650 |
| 22% | $55,901 – $89,050 | $6,415 plus 22% of income over $55,900 |
| 24% | $89,051 – $170,050 | $13,708 plus 24% of income over $89,050 |
| 32% | $170,051 – $215,950 | $33,148 plus 32% of income over $170,050 |
| 35% | $215,951 – $539,900 | $47,836 plus 35% of income over $215,950 |
| 37% | $539,901 or more | $161,218.50 plus 37% of income over $539,900 |
2023 Capital Gains Tax Rates
| Filing Status | 0% | 15% | 20% |
|---|---|---|---|
| Single | $0 – $44,625 | $44,626 – $492,300 | $492,301 or more |
| Married filing jointly | $0 – $89,250 | $89,251 – $553,850 | $553,851 or more |
| Head of household | $0 – $59,750 | $59,751 – $523,050 | $523,051 or more |
| Married filing separately | $0 – $44,625 | $44,626 – $492,300 | $492,301 or more |
In the News
IRS launches paperless processing initiative
Hawaii wildfire victims qualify for tax relief; Oct. 16 deadline, other dates postponed to Feb. 15
What’s new and what to consider when filing in 2023
IRS interest rates increase for the first quarter of 2023
You may receive 1099-Ks for sales over $600 in early 2023
401(k) limit increases to $22,500 for 2023, IRA limit rises to $6,500