![]() For heads of households, the standard deduction will increase by $150 to $18,800. The IRS also announced that the standard deduction for tax year 2021 will increase by $300 to $25,100 for married couples filing jointly, and by $150 to $12,550 for single individuals and married individuals filing separately. The above rates apply to taxable income, after the standard deduction (or itemized deductions) and other tax breaks have been taken. Your state may have different brackets, no taxes at all or a flat rate. You can also calculate your 2021 Return here. The indexed brackets are adjusted by the inflation factor and the results are rounded to the nearest 10. You can no longer e-File 2021 Tax Returns find all 2021 tax calculators and forms here if you need to file 2021 Taxes today. For 2021, the top tax rate of 37 will apply to individual taxpayers with income over 523,600 (628,300 for married filing jointly). Under state law, Minnesota’s income tax brackets are recalculated each year based on the rate of inflation. For Tax Year 2021, use the tax bracket calculator below. These are the rates and income brackets for federal taxes. For the current tax year, use this income tax calculator or RATEucator.
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