In the United States, your tax rate is determined by the bracket you fall into, which is based on your taxable income and filing status. Understanding how to identify your tax bracket and calculate ...

Tax brackets are the government’s way of ensuring that taxpayers who earn more money pay more in taxes. Each bracket consists of a tax rate that’s applied to taxable income within a specific range.

Bloomberg Tax & Accounting released its annual report Thursday projecting U.S. tax rate brackets, standard deduction amounts, and alternative minimum tax exemption amounts for the year ahead.