7. Higher income brackets
Income tax brackets are also somewhat higher in 2019 than they were last year on account of inflation. The IRS reports that the tax rates and corresponding 2019 income brackets are as follows for folks whose tax filing status is single:
- 37% tax rate: Applies to incomes of more than $510,300
- 35%: More than $204,100 but not more than $510,300
- 32%: More than $160,725 but not more than $204,100
- 24%: More than $84,200 but not more than $160,725
- 22%: More than $39,475 but not more than $84,200
- 12%: More than $9,700 but not more than $39,475
- 10%: $9,700 or less
