2022 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: 0 $ 10,275 $ 41,775 $ 10,275 $ 41,775 $ 170,050 $ $ 89,075 $ 170,050 215,950 $539,900 $ 89,075 $215.950 $539,900 The taxis: 10% of taxable income $1,027.50 plus 12% of the excess over $10,275 $4,807.50 plus 22% of the excess over $41,775 $15,213.50 plus 24% of the excess over $89,075 $34,647 50 plus 32% of the excess over $170,050 $49,335.50 plus 35% of the excess over $215,950 $162,718 plus 37% of the excess over $539,900 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not over: 0 $ 20,550 $ 83,550 $178,150 $340,100 $ 431,900 $647,850 $ 20,550 $ 83,550 $178,150 $340,100 $ 431,900 $647,850 The taxis: 10% of taxable income $2,055 plus 12% of the excess over $20,550 $9,615 plus 22% of the excess over $83,550 $30,427 plus 24% of the excess over $178,150 $69,295 plus 32% of the excess over $340,100 $98,671 plus 35% of the excess over $431,900 $174,253.50 plus 37% of the excess over $647,850 Schedule Z-Head of Household If taxable income is over: But not over: 0 $ 14,650 $ 55,900 $ 89,050 $ 170.050 $215.950 $539,900 $ 14,650 $ 55,900 $ 89,050 $ 170,050 $ 215,950 $539,900 The taxis: 10% of taxable income $1,465 plus 12% of the excess over $14,650 $6,415 plus 22% of the excess over $55,900 $13,708 plus 24% of the excess over $89,050 $33,148 plus 32% of the excess over $170,050 $47,836 plus 35% of the excess over $215,950 $161,218.50 plus 37% of the excess over $539,900 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: 0 $ 10,275 $ 41,775 $ 89,075 $ 170,050 $ 215,950 $323,925 $ 10,275 $ 41,775 $ 89,075 $170,050 $ 215,950 $323,925 The tax is: 10% of taxable income $1,027.50 plus 12% of the excess over $10,275 $4,807.50 plus 22% of the excess over $41,775 $15,213.50 plus 24% of the excess over $89,075 $34,647.50 plus 32% of the excess over $170,050 $49,335.50 plus 35% of the excess over $215,950 $87,126.75 plus 37% of the excess over $323,925 Chuck, a single taxpayer, earns $75,000 in taxable income and $10,000 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule.) Required: a. If Chuck earns an additional $40,000 of taxable income, what is his marginal tax rate on this income? b. What is his marginal rate if, instead, he had $40,000 of additional deductions? Note: For all requirements, do not round intermediate calculations. Round percentage answers to 2 decimal places. a. Marginal tax rate b. Marginal tax rate % %