2020-2021 Federal Tax Brackets and Tax Rates

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Each year, the IRS makes a series of inflation-related adjustments to the U.S. tax code. So, even if there are no major changes in the tax law, the tax brackets are likely to change.

That’s exactly what has happened for the 2021 tax year. Here’s an overview of the 2021 tax brackets, how they’ve changed from 2020, and some other important information that will be used to calculate your taxable income in both 2020 and 2021.

Image source: Getty Images.

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