\n37%<\/td>\n | $518,400<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n\n Married Individuals Filing Separately<\/h3>\n<\/div>\n\n \n\n\n\nRate<\/h3>\n<\/th>\n\nTaxable Income Over<\/h3>\n<\/th>\n<\/tr>\n<\/thead>\n\n\n10%<\/td>\n | $0<\/td>\n<\/tr>\n | \n12%<\/td>\n | $9875<\/td>\n<\/tr>\n | \n22%<\/td>\n | $40.125<\/td>\n<\/tr>\n | \n24%<\/td>\n | $85,525<\/td>\n<\/tr>\n | \n32%<\/td>\n | $163,300<\/td>\n<\/tr>\n | \n35%<\/td>\n | $207,350<\/td>\n<\/tr>\n | \n37%<\/td>\n | $311,025<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n <\/p>\n \n Married Individuals, Filing Joint Returns<\/h3>\n<\/div>\n\n \n\n\n\nRate<\/span><\/h2>\n<\/th>\n\nTaxable Income Over<\/h3>\n<\/th>\n<\/tr>\n<\/thead>\n\n\n10%<\/td>\n | $0<\/td>\n<\/tr>\n | \n12%<\/td>\n | $19,750<\/td>\n<\/tr>\n | \n22%<\/td>\n | $80,250<\/td>\n<\/tr>\n | \n24%<\/td>\n | $171,050<\/td>\n<\/tr>\n | \n32%<\/td>\n | $326,600<\/td>\n<\/tr>\n | \n35%<\/td>\n | $414,700<\/td>\n<\/tr>\n | \n37%<\/td>\n | $622,050<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n <\/p>\n \n Heads of Households<\/h3>\n<\/div>\n\n \n\n\n\nRate<\/h3>\n<\/th>\n\nTaxable Income Over<\/h3>\n<\/th>\n<\/tr>\n<\/thead>\n\n\n10%<\/td>\n | $0<\/td>\n<\/tr>\n | \n12%<\/td>\n | $14,100<\/td>\n<\/tr>\n | \n22%<\/td>\n | $53,700<\/td>\n<\/tr>\n | \n24%<\/td>\n | $85,500<\/td>\n<\/tr>\n | \n32%<\/td>\n | $163,300<\/td>\n<\/tr>\n | \n35%<\/td>\n | $207,350<\/td>\n<\/tr>\n | \n37%<\/td>\n | $518,400<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n <\/p>\n \n Standard Deduction 2020<\/h3>\n<\/div>\n\n \n\n\n\nFiling Status<\/h3>\n<\/td>\n\nDeduction Amount<\/h3>\n<\/td>\n<\/tr>\n<\/thead>\n\n\nSingle(married or unmarried)<\/td>\n | $12,400<\/td>\n<\/tr>\n | \nMarried Filing Jointly<\/td>\n | $24,800<\/td>\n<\/tr>\n | \nHead of Household<\/td>\n | $18,650<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n <\/p>\n \n Alternative Minimum Tax Exemptions, 2020<\/h3>\n<\/div>\n\n \n\n\n\nFiling Status<\/h3>\n<\/th>\n\nDeduction Amount<\/h3>\n<\/th>\n<\/tr>\n<\/thead>\n\n\nUnmarried Individuals<\/td>\n | $72,900<\/td>\n<\/tr>\n | \nMarried Filing Jointly<\/td>\n | $113,400<\/td>\n<\/tr>\n | \nMarried Filing Separately<\/td>\n | $56,700<\/td>\n<\/tr>\n | \nTrusts & Estate<\/td>\n | $25,700<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n <\/p>\n \n Alternative Minimum Tax Exemption Phaseout Thresholds, 2020<\/h3>\n<\/div>\n\n \n\n\n\nFiling Status<\/h3>\n<\/th>\n\nThreshold<\/h3>\n<\/th>\n<\/tr>\n<\/thead>\n\n\nUnmarried Individuals(other than surviving spouse) and Married Individuals Filing Separate <\/span>Returns<\/td>\n | $518,400<\/td>\n<\/tr>\n | \nJoint Returns or Surviving Spouses<\/td>\n | $1,036,800<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n <\/p>\n \n 2020, Earned Income Tax Credit Parameters<\/h3>\n<\/div>\n\n \n\n\n\nFiling Status<\/strong><\/h3>\n<\/th>\n<\/th>\n | \nNo Children<\/strong><\/h3>\n<\/th>\n\nOne Child<\/strong><\/h3>\n<\/th>\n\nTwo Children<\/strong><\/h3>\n<\/th>\n\nThree or More Children<\/strong><\/h3>\n<\/th>\n<\/tr>\n<\/thead>\n\n\nSingle or Head of Household<\/strong><\/td>\nIncome at Max Credit<\/strong><\/td>\n$7,030<\/td>\n | $10,540<\/td>\n | $14,800<\/td>\n | $14,800<\/td>\n<\/tr>\n | \nMaximum Credit<\/strong><\/td>\n$538<\/td>\n | $3,584<\/td>\n | $5,920<\/td>\n | $6,660<\/td>\n<\/tr>\n | \nPhaseout Begins<\/strong><\/td>\n$8,790<\/td>\n | $19,330<\/td>\n | $19,330<\/td>\n | $19,330<\/td>\n<\/tr>\n | \nPhaseout Ends (Credit<\/strong> \nEquals Zero)<\/strong><\/td>\n$15,820<\/td>\n | $41,756<\/td>\n | $47,440<\/td>\n | $50,954<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n\n \n\n\nMarried Filing Jointly<\/strong><\/td>\nIncome at Max Credit<\/strong><\/td>\n$7,030<\/td>\n | $10,540<\/td>\n | $14,800<\/td>\n | $14,800<\/td>\n<\/tr>\n | \nMaximum Credit<\/strong><\/td>\n$538<\/td>\n | $3,584<\/td>\n | $5,920<\/td>\n | $6,660<\/td>\n<\/tr>\n | \nPhaseout Begins<\/strong><\/td>\n$14,680<\/td>\n | $25,220<\/td>\n | $25,220<\/td>\n | $25,220<\/td>\n<\/tr>\n | \nPhaseout Ends (Credit Equals Zero)<\/strong><\/td>\n$21,710<\/td>\n | $47,646<\/td>\n | $53,330<\/td>\n | $56,844<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n <\/p>\n \n 2020, Capital Gains Brackets<\/h3>\n<\/div>\n\n \n\n\n<\/th>\n | \nFor Unmarried Individuals, <\/strong>Capital Gains upto \n<\/strong><\/h4>\n <\/strong><\/h4>\n<\/th>\n\nFor Married Individuals Filing Joint Returns, Capital Gains Upto<\/strong><\/h4>\n<\/th>\n\nFor Heads of Households, Capital Gains Upto<\/strong><\/h4>\n<\/th>\n\nFor Trusts & Estates <\/strong><\/h4>\nCapital Gains Upto<\/strong><\/h4>\n<\/th>\n<\/tr>\n<\/thead>\n\n\n0%<\/td>\n | $40,000<\/td>\n | $80,000<\/td>\n | $53,600<\/td>\n | $2,650<\/td>\n<\/tr>\n | \n15%<\/td>\n | $441,000<\/td>\n | $496,600<\/td>\n | $469,050<\/td>\n | $13,150<\/td>\n<\/tr>\n | \n20%<\/td>\n | exceeding <\/p>\n $441,000<\/p><\/td>\n | exceeding $496,600<\/td>\n | exceeding <\/p>\n $496,050<\/p><\/td>\n | exceeding <\/p>\n $13,150<\/p><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n <\/p>\n \n 2020, Qualified Business Income Deduction Thresholds<\/h3>\n<\/div>\n\n \n\n\n\nFiling Status<\/h3>\n<\/th>\n\nThreshold<\/h3>\n<\/th>\n<\/tr>\n<\/thead>\n\n\nUnmarried Individuals & all others<\/td>\n | $163,300<\/td>\n<\/tr>\n | \nMarried Filing Jointly<\/td>\n | $326,600<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n\n\nEstate Income Tax Rates<\/h2>\n\n\n\nEstate’s Income<\/th> | Tax rate<\/th><\/tr><\/thead> |
---|
Upto $2,600<\/td> | 10%<\/td><\/tr> | $2,601 to $9,450<\/td> | 24%<\/td><\/tr> | $9,451 to $12,950<\/td> | 35%<\/td><\/tr> | Over $12,950<\/td> | 37%<\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":" The 2020 tax rates that affect your tax filing for 2021, came out on Wednesday 6th Nov 2019 !Find the copy of IRS release on the 2020 tax rates and income brackets. While the seven slabs of tax rates remain unchanged, the income limits have been changed. You can consult 2019 tax brackets for filing […]<\/p>\n","protected":false},"author":1,"featured_media":2625,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[65],"tags":[1076,1077],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/posts\/2624"}],"collection":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/comments?post=2624"}],"version-history":[{"count":0,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/posts\/2624\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/media\/2625"}],"wp:attachment":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/media?parent=2624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/categories?post=2624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/tags?post=2624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} |
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