Your 2021 Tax Filing Guide

Posted on March 7, 2022 by Oozle Media

Tax season is here and it’s time to start filing those taxes. Because we are still experiencing the pandemic, we are seeing several different changes happening this upcoming tax season. To help you file this year, we’ve created a guide for you down below. 

2021 Tax Brackets and Federal Income Tax Rates

Tax Rate Single Married Filing Joint Married Filing Separate Head of Household
10% $0 to $9,950 $0 to $19,900 $0 to $9,950 $0 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

 

Standard Deduction

Filing Status 2021 Tax Year
Single $12,550
Married Filing Jointly $25,100
Married Filing Separate $12,550
Head of Household $18,800

 

Mileage Reimbursement Rates

Business Mileage Rate 56 cents / mile
Medical and Moving Mileage Rate 16 cents / mile
Charitable Mileage Rate 14 cents / mile

Key Dates to Know

The Internal Revenue Service announced that the nation’s tax season will start on Monday, January 24th, 2022. This means you can start filing your taxes now! It is also important to note that the deadline for most will be on April 18th, 2022. Other key dates include:

  • October 17th is the Extension Deadline for Individual Returns
  • March 15th is the Tax Deadline for Business Returns
  • September 15th is the Extension Deadline for Business returns

If you need help with your taxes this season, the Lightheart Sanders and Associates can help. Whether you’re an individual taxpayer or a business owner, we can help reduce the stress and pains of filing for taxes. Contact us today with any questions you may have!

Categories: Tax Tips

Leave a Reply

Your email address will not be published.