2023 federal income tax brackets
Single
 
Taxable Income Tax Rate
$0 - $11,000 10%
$11,001 to $44,725 12%
$44,726 to $95,375 22%
$95,376 to 182,100 24%
$182,101 to $231,250 32%
$231,251 to $578,125 35%
$578,126 or more 37%
Married Filing Jointly
Taxable Income Tax Rate
$0 to $22,000 10% of taxable income
$22,001 to $89,450 12%
$89,451 to $190,750 22%
$190,751 to $364,200 24%
$364,201 to $462,500 32%
$462,501 to $693,750 35%
$693,751 or more 37%
Married Filing Separately
Taxable Income Tax Rate
$0 - $11,000 10%
$11,001 to $44,725 12%
$44,726 to 95,375 22%
$95,376 to 182,100 24%
$182,101 to 231,250 32%
$231,251 to 346,875 35%
$346,876 or more 37%
Head of Household
Taxable Income Tax Rate
$0 to $15,700 10% of taxable income
$15,701 to $59,850 12%
$59,851 to $95,350 22%
$95,351 to $182,100 24%
$182,101 to $231,250 32%
$231,251 to $578,100 35%
$578,101 or more 37%
2023 Standard Deduction
Filing Status Standard Deduction
Married Filing Jointly $27,700
Single Taxpayers and Married Filing Seperately $13,850
Heads of Households $20,800
2023 Capital Gain and Qualified dividends Tax Rates
Rate Single Filer Married Filing Jointly and Surviving Spouse Head of Household Married Filing Separately
0% $0-$44,625 $0-$89,250 $0-$59,750 $0-$44,625
15% $44,626 to $492,300 $89,251 to $553,850 $59,751 to $523,050 $44,626 to $276,900
2023 Other Tax Updates
Highlights of Changes New for 2023
Maximum Earned Income Tax Credit $7,430
Annual Deductible Medical Savings Account $2,650 to $3,950
Foreign Earned Income Exclusion $120,000
Estates of Decedents' Basic Exclusion Amount $12,920,000
Annual Exclusion for Gifts $17,000
Maximum Adoptions Credit $15,950
Limitation for Contributions to Health Flexible Spending $3,050
Monthly Limitation for Qualified Parking $300