For the 2014 tax year, federal personal income tax brackets range from 10 percent to 39.6 percent depending on taxable income and filing status, according to Kelly Phillips Erb for Forbes. The United States uses marginal tax rates so only the income that falls within a bracket is taxed at that bracket's rate.
The marginal tax rates for 2014 are 10, 15, 25, 28, 33, 35 and 39.6 percent, explains Erb. Single taxpayers pay income taxes at the 10 percent rate on income up to $9,075, while married filers are subject to the 10 percent rate on income under $18,150. The highest rates of 39.6 percent applies to single filers when their income exceeds $406,750 and to married filers with incomes over $457,600. Heads of household brackets fall in between the single and married thresholds, beginning at $12,950 for the 10 percent rate and $432,200 for the 39.6% rate.
Federal income tax brackets are among the provisions adjusted on an annual basis to account for inflation, notes the Tax Foundation. The Internal Revenue Services uses Consumer Price Index data to change the thresholds for each tax rate. The IRS adjusts the standard deduction amounts along with tax brackets annually, and these deduction amounts increased from 2013 and 2014 between $100 and $200 depending on filing status.