2016 Tax Brackets
This year’s Federal income tax comprises 7 rate brackets: 10%, 15%, 25%, 28%, 33%, 35%, and 39.6%. On April 15 the amount of tax owed depends upon filing status, income level, and other factors.
Note: the money earned within a specific tax bracket is subject to that specific tax rate. More income may move the taxpayer into a higher tax bracket; however; not all income is taxed at the higher rate.