How many different income tax brackets were there in 2022?

In 2022, there were seven different federal income tax brackets in the United States. Each tax bracket represents a range of incomes that are taxed at a specific rate, and these rates apply to income earned above the thresholds set for each bracket. The seven brackets ranged from 10% to 37%, with progressivity built into the structure of income taxation, ensuring that as an individual's income increases, the income that falls within higher brackets is taxed at higher rates.

Understanding the seven brackets is essential for anyone preparing taxes because it impacts how much tax will ultimately be owed based on the taxpayer's income level. This bracket system allows for a more equitable taxation process, where those with higher incomes contribute a larger percentage of their income in taxes compared to those with lower incomes.