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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.
Below are the income tax brackets that apply to estates and trusts in 2015, which includes the new top 39.6% income tax bracket introduced by the American Taxpayer Relief Act. If taxable income is: The tax is: Not over $2,500 15% of the taxable income. Over $2,500 but $375 plus 25% of.