The most recent tax policy – the Tax Cuts and Jobs Act of 2017 – didn’t add any brackets, but it did rearrange some percentages in the seven brackets.

The most notable change was reducing the marginal tax rate in three of the four lowest brackets by 1%-to-4%. The new law also nearly doubled the standard deduction for all segments of taxpayers.

Since then, the IRS has provided tax inflation adjustments – raising the standard deduction to $12,200 for single taxpayers and married couples filing separately. Married couples filing jointly or a surviving spouse can deduct $24,400, and heads of households receive a deduction of $18,350.

Taxpayers can either use the standard deduction or itemize deductions to reduce the amount of taxable income they must pay.

Here is a look at what the brackets and tax rates are for 2019-2020:

2019 Tax Brackets (Due July, 15 2020)

Tax rate

Single filers

Married filing jointly*

Married filing separately

Head of household

10%

$0 – $9,700

$0 – $19,400

$0 – $9,700

$0 – $13,850

12%

$9,701 – $39,475

$19,401 – $78,950

$9,701 – $39,475

$13,851 – $52,850

22%

$39,476 – $84,200

$78,951 – $168,400

$39,476 – $84,200

$52,851 – $84,200

24%

$84,201 – $160,725

$168,401 – $321,450

$84,201 – $160,725

$84,201 – $160,700

32%

$160,726 – $204,100

$321,451 – $408,200

$160,726 – $204,100

$160,701 – $204,100

35%

$204,101 – $510,300

$408,201 – $612,350

$204,101 – $306,750

$204,101 – $510,300

37%

$510,301 or more

$612,351 or more

$306,751 or more

$510,301 or more

*Qualifying widow(er)s can use the joint tax rates

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