As a taxpayer, you pay tax as a percentage of your income in layers called tax brackets, according to the IRS.

The U.S. uses a progressive tax system with seven tax brackets, meaning higher tiers of income are taxed at higher rates. The IRS adjusts tax brackets annually for inflation, which may affect your tax ...

Tax season is approaching, and millions of Americans will soon turn their attention to tax brackets. Every year, the Internal Revenue Service announces new tax brackets, tiers of income that are taxed ...