2014 Federal Income Tax Brackets by Filing Status

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Official 2014 Federal Income Tax BracketsEach year, the IRS revamps income taxes and other tax codes to adjust for inflation, and 2014 is no different. Recently, the IRS released federal income tax rate schedules, cost-of-living adjustments, and tax tables for 2014.

Wondering what your income taxes might look like in 2014*? Here’s what you need to know.

First, A Basic Review of Taxes

Just to make sure you’ll clearly understand these charts, let’s review some basic information about the United States federal income tax system:

The US federal income tax is meant to affect all individuals who earn income. The amount of your income, including wages, interest, dividends, profits, and the like determines how much you pay in taxes.

Our tax system is progressive, which means that if you make more money, you pay a higher tax rate. If you make less money, you have a lower tax rate.

However, what is perhaps the most confusing aspect of our tax system is that it’s marginal. What you’ll see in the charts below is that your tax rate doesn’t actually apply to every dollar you earn. Instead, you pay a certain rate on different brackets of income.

For example, let’s say that you’re a single filer and have $90,000 in taxable income in 2014. Your marginal tax rate will be 28%. But what you’ll actually pay looks like this:

  • On the first $9,075, you’ll pay 10% – $907.50
  • On the next $27,825, you’ll pay 15% – $4,173.75
  • On the next $52,450, you’ll pay 25% – $13,112.50
  • On the last $650, you’ll pay 28% – $182
  • For a total of $18,375.75*

*Because of deductions and credits and such, you won’t actually fork over that much money, but this is your effective income tax, based on the marginal tax rate.

Also note that tax rates are for your income as of that year. In other words, the 2014 income tax rates will apply to the taxes you pay in 2015 on your income from 2014. These are not the tax rates that you’ll pay when you file taxes in 2014 on your 2013 income.

It’s all so straightforward, right?

Now that you understand how taxes work, let’s look at the recently-released 2014 tax brackets:

Single Filer Tax Rates

Taxable Income
Your Tax
Up to $9,07510% of taxable income
$9,076 to $36,900$907.50 + 15% of income over $9,075
$36,901 to $89,350$5,081.25 + 25% of income over $36,900
$89,351 to $186,350$18,193.75 + 28% of income over $89,350
$186,351 to $405,100$45,353.75 + 33% of income over $186,350
$405,101 to $406,750$117,541.25 + 35% of income over $405,100
$406,751+ $118,188.75 + 39.6% of income over $406,750

Married Filing Jointly and Surviving Spouses Tax Rates

Taxable Income:
Tax Rate:
Up to $18,15010% of taxable income
$18,151 to $73,800$1,815 + 15% of income over $18,150
$73,801 to $148,850$10,162.50 + 25% of income over $73,800
$148,851 to $226,850$28,925 + 28% of income over $148,850
$226,851 to $405,100$50,765 + 33% of income over $226,850
$405,101 to $457,600$109,587.50 + 35% of income over $405,100
$457,601+$127,962.50 + 39.6% of income over $457,600

Head of Household Tax Rates

Taxable Income:
Tax Rate:
Up to $12,95010% of taxable income
$12,951 to $49,400$1,295 + 15% of income over $12,950
$49,401 to $127,550$6,762.50 + 25% of income over $49,400
$127,551 to $206,600$26,300 + 28% of income over $127,550
$206,601 to $405,100$48,434 + 33% of income over $206,600
$405,401 to $432,200$113,939 + 35% of income over $405,400
Over $432,201$123,424 + 39.6% of income over $432,200

Married Filing Separately Tax Rates

Taxable Income:
Tax Rate:
Up to $9,07510% of taxable income
$9,076 to $36,900$907.50 + 15% of income over $9,075
$36,901 to $74,425$5,081.25 + 25% of income over $36,900
$74,426 to $113,425$14,462.50 + 28% of income over $74,425
$113,426 to $202,550$25,382.50 + 33% of income over $113,425
$202,551 to $228,800$54,793.75 + 35% of income over $202,550
$228,801+$63,981.25 + 39.6% of income over $228,800

As we said above, it’s very unlikely that you’ll actually pay your full income tax. And just like income tax brackets change each year, so do deductions, credits, and other items that help you pay less in taxes. Look for more articles in the coming weeks on these 2014 tax changes!

For you history buffs, here are the federal income tax brackets for 2013, 2012, 2011, and 2010.

Published or Updated: April 1, 2014
About Abby Hayes

Abby is a freelance copywriter and blogger who writes on everything from personal finance to health and wellness. She spends her spare time bargain hunting and meal planning for her family of three.

Comments

  1. Jane says:

    I don’t men to be a pest, but… You’ve switched the “Married Filing Jointly” and “Single Filer” tables. You might also note that “Married Filing Jointly” is better named “Married Filing Jointly and Surviving Spouses”.

    • Rob Berger says:

      Jane, thanks for catching this. We’ve updated the article.

  2. Adam L says:

    Just FYI, you have typos in your single filing and married filing jointly tables. Many other websites have different numbers. It is possible that you swapped the labels of your tables, meaning the single and the married filing seperately should swap labels. (I think that is the problem).

  3. Rob Berger says:

    A big thank you to a reader named Steve who found a math error in our numbers. We’ve updated the post to correct the error.

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