• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • facebook
  • twitter
  • youtube
  • instagram
  • yelp

Subsidiary of EtaxService.com | Support Hotline: 877-ETAX-123 | 877-382-9123

Expatriate Tax Returns

Expatriate Tax Returns

  • Home
  • About Us
    • Expatriate FAQ for Tax Filing
    • Testimonials
    • Leave a Comment
  • Services
    • Individual Tax Returns
    • Business Tax Returns
    • Estates and Trusts
    • FBARS and FORM 8938
    • Non-Filers and Late Filers
    • Audit Assistance
    • What We Need
  • Pricing
    • Privacy/Payment Policies
  • Tax Resources
    • Tax Forms and Documents
    • Expat White Paper
    • Expat Tax Guide
  • Blog
  • Contact Us
  • Pay Bill

What You Need to Know About The Proposed Tax Bracket Changes For 2022

November 17, 2022

The United States has a progressive tax system, which means that taxpayers are taxed at different rates depending on their income level. The current tax brackets are 10%, 15%, 25%, 28%, 33%, 35%, and 37%.

For the tax year 2021, the income thresholds for each tax bracket are:

* 10% bracket: $0 to $9,875 for singles; $0 to $19,750 for married couples filing jointly

* 15% bracket: $9,875 to $40,125 for singles; $19,750 to $80,250 for married couples filing jointly

* 25% bracket: $40,125 to $85,525 for singles; $80,250 to $171,050 for married couples filing jointly

* 28% bracket: $85,525 to $163,300 for singles; $171,050 to $326,600 for married couples filing jointly

* 33% bracket: $163,300 to $207,350 for singles; $326,600 to $414,700 for married couples filing jointly

*35% bracket: $209,426 to $523,600 for singles; $418,851 to $628,300 for married couples filing jointly

*37% bracket: $532,600 or more for singles; $628,300 or more for marries couples filing jointly

Who will the tax bracket change affect?

The proposed tax bracket changes will affect taxpayers with an income of $200,000 or more. Under the proposed changes, there will be a new tax bracket of 39.6% for taxpayers with an income of $200,000 or more.

What are the proposed changes?

The proposed changes would create a new tax bracket of 39.6% for taxpayers with an income of $200,000 or more. The other tax brackets would be unchanged.

How will the changes impact you?

The changes would impact you if you have an income of $200,000 or more. If you are in this income bracket, you would be required to pay 39.6% in taxes on your income.

What can you do to prepare for the changes?

If you are in the affected income bracket, you can begin to plan for the changes by adjusting your tax withholding. You can also make adjustments to your budget to account for the higher taxes you will be required to pay.

Wrapping up

The proposed tax bracket changes would create a new tax bracket of 39.6% for taxpayers with an income of $200,000 or more. The other tax brackets would be unchanged. The changes would impact you if you have an income of $200,000 or more. If you are in this income bracket, you would be required to pay 39.6% in taxes on your income. You can begin to prepare for the changes by adjusting your tax withholding and making adjustments to your budget

If you have questions about your tax brackets or other tax information, visit our contact page to connect with an expert.

Share this:

  • Facebook
  • Twitter
  • LinkedIn

Filed Under: Blog Tagged With: American Expats, Expat Tax Returns, Expatriate Tax Returns

Primary Sidebar

Blog Archive

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 1,847 other subscribers

Footer

Contact Information

Expatriate Tax Returns
Phone: 1-877-ETAX-123 (382-9123)
Fax: 561-516-6261

Corporate Office (Florida)
7865 Palencia Way, Delray Beach, FL 33446

Satellite Office (Michigan)
20164 Goddard Rd, Taylor, MI 48180

Satellite Office (UK)
16 Malvern Court, Onslow Square
London, UK SW7 3HU

Contact Us

Refer A Friend

Services

  • Individual Tax Returns
  • Business Tax Returns
  • Estates and Trusts
  • FBARS and FORM 8938
  • Non-Filers and Late Filers
  • Audit Assistance
  • What We Need

Latest News

The 2023 US Tax Deadline For Expats: What You Need To Know

The Foreign Tax Credit: What You Need To Know For 2023

The Importance Of Form 8992: A Guide For Taxpayers

Copyright © 2023 Expatriate Tax Returns · Privacy Policy · Site by OMA Comp
Subsidiary of EtaxService.com