2020 Tax Brackets and Rates

10% of taxable income 

$987.50 plus 12% of the amount over $9,875 

$4,617.50 plus 22% of the amount over $40,125 

$14,605.50 plus 24% of the amount over $85,525 

$33,271.50 plus 32% of the amount over $163,300 

$47,367.50 plus 35% of the amount over $207,350 

$156,235 plus 37% of the amount over $518,400 

10% of taxable income 

$1,975 plus 12% of the amount over $19,750 

$9,235 plus 22% of the amount over $80,250 

$29,211 plus 24% of the amount over $171,050 

$66,543 plus 32% of the amount over $326,600 

$94,735 plus 35% of the amount over $414,700 

$167,307.50 plus 37% of the amount over $622,050 

10% of taxable income 

$987.50 plus 12% of the amount over $9,875 

$4,617.50 plus 22% of the amount over $40,125 

$14,605.50 plus 24% of the amount over $85,525 

$33,271.50 plus 32% of the amount over $163,300 

$47,367.50 plus 35% of the amount over $207,350 

$83,653.75 plus 37% of the amount over $311,025 

10% of taxable income 

$1,410 plus 12% of the amount over $14,100 

$6,162 plus 22% of the amount over $53,700 

$13,158 plus 24% of the amount over $85,500 

$31,830 plus 32% of the amount over $163,300 

$45,926 plus 35% of the amount over $207,350 

$154,793.50 plus 37% of the amount over $518,400 

Adjusted Gross Income at max credit:  $7,030. 

Phase-out Bracket: $8,790 - $15,820

Adjusted Gross Income at max credit:  $10,540  

Phase-out Bracket:  $19,330  -  $41,756 

Adjusted Gross Income at max credit:  $14,800 

Phase-out Bracket:   $19,330  -   $47,440  

 
Adjusted Gross Income at max credit:  $14,800 

Phase-out Bracket:  $19,330  -  $47,440
 

Adjusted Gross Income at max credit: $7,030

Phase-out Brackets:  $14,680 -  $21,710  

Adjusted Gross Income at max credit: $10,540

Phase-out Brackets:  $25,220  -  $47,646  

Adjusted Gross Income at max credit: $14,800

Phase-out Brackets:  $25,220  -  $53,330 

Adjusted Gross Income at max credit: $14,800

Phase-out Brackets:  $25,220  -  $56,844    

The Standard Deduction increased by $200 for single filers and $400 for married couples filing jointly. 

Personal Exemptions remained eliminated for 2020.