What are the new income tax brackets for 2020?

Any major changes from last yer?

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Answer

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    This answer is edited.

    The IRS income tax bracket for tax year 2020 to 2021 is as follows:

    2020 income tax brackets

    The standard deduction amounts also increased to adjust for inflation:

    • Single: $12,400
    • Married filing jointly: $24,800
    • Head of household: $18,650

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