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How Federal Income Tax Brackets Work. Say a married couple, filing jointly, in 2016, had a taxable income of $175,000. Each dollar over $151,900âor $23,100âwould fall into the 28% federal income tax bracket. However, the couples' total federal tax would have been $35,986âjust about 20%, of their adjusted gross income.
The Federal income tax is a graduated tax so the rate will rise as your pay rises. Most employers will base the withholding upon your gross pay for the pay period as opposed to annualizing it so a high pay pay period can result in a significantly different rate of tax than a low pay one will.