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The U.S. income tax is calculated using tax brackets, which specify different tax rates for different income ranges. Each tax bracket has a corresponding tax rate, and the taxable income is divided into these brackets. The applicable tax rate is applied to the income within each bracket.
For example, in the 2022 tax year, the tax brackets for single filers are as follows:
… and so on
To calculate the income tax, you would determine the taxable income and then calculate the tax based on the applicable tax rates for each bracket.
It’s important to note that the U.S. tax system is complex, and there are additional factors such as deductions, exemptions, and credits that can impact the final tax liability. Consulting with a tax professional or using tax preparation software can help ensure accurate calculations.
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