2021 Tax Rates
View 2020 Tax Rates
Individuals
| Tax Rate | Single Filers | Married Filing Jointly or Qualifying Widow/Widower | Married Filing Separately | Head of Household |
|---|---|---|---|---|
| 10% | Up to $9,950 | Up to $19,900 | Up to $9,950 | Up to $14,200 |
| 12% | $9,951 to $40,525 | $19,901 to $81,050 | $9,951 to $40,525 | $14,201 to $54,200 |
| 22% | $40,526 to $86,375 | $81,051 to $172,750 | $40,526 to $86,375 | $54,201 to $86,350 |
| 24% | $86,376 to $164,925 | $172,751 to $329,850 | $86,376 to $164,925 | $86,351 to $164,900 |
| 32% | $164,926 to $209,425 | $329,851 to $418,850 | $164,926 to $209,425 | $164,901 to $209,400 |
| 35% | $209,426 to $523,600 | $418,851 to $628,300 | $209,426 to $314,150 | $209,401 to $523,600 |
| 37% | $523,601 or more | $628,301 or more | $314,151 or more | $523,601 or more |
Estates & Trusts
| Tax Rate | Taxable Income |
|---|---|
| 10% | Up to $2,650 |
| 24% | $2,651 to $9,550 |
| 35% | $9,551 to $13,050 |
| 37% | $13,051 or more |
Corporations
| Tax Rate | Taxable Income |
|---|---|
| 21% | Flat rate applied to all income |
Other Notable Changes From Tax Reform
$10,000 itemized deduction limit for state and local tax.
No unreimbursed employee expenses can be deducted
Moving expense deduction is gone.
No Obamacare penalty after 2018 for not having qualified coverage.
20% deduction on business pass-through income.
Estate tax exemption increased to $11.58 million per individual.
Social Security Tax Rates
| Base Salary | $142,800 |
| Social Security Tax Rate | 6.20% |
| Medicare Base Salary | Unlimited |
| Medicare Tax Rate | 1.45% |
Standard Deductions
| Single | $12,550 |
| Married Filing Jointly | $25,100 |
| Married Filing Separately | $12,550 |
| Head of Household | $18,800 |
Miscellaneous Tax Information
| Child Tax Credit | $3,000/$3,600 if under 6 |
| Sec 179 Limit | $1,050,000 |
| Business Mileage Rate | 56 cents |
| Medical Mileage Rate | 16 cents |
| Charitable Mileage Rate | 14 cents |
2021 Due Dates
| Return | Form | Due Date | Extended Due Date |
|---|---|---|---|
| Individuals | 1040 | April 18, 2022 | October 17, 2022 |
| Partnerships/LLCs | 1065 | March 15, 2022 | September 15, 2022 |
| S-Corporations | 1120S | March 15, 2022 | September 15, 2022 |
| Corporations | 1120 | April 18, 2022 | September 15, 2022 |
| Estates/Trusts | 1041 | April 18, 2022 | September 15, 2022 |
| Not-for-profit | 990 | May 16, 2022 | November 15, 2022 |
| Employee Benefit | 5500 | August 1, 2022 | November 1, 2022 |
| W-2s | January 31, 2022 | N/A | |
| 1099s | January 31, 2022 | N/A |
*Due dates may be different if you have a year-end other than December 31st