Educational Article
Intro to Filing Taxes
Got income? The Internal Revenue Service (IRS) wants to know about it. Here’s the basics of how to tell them.
Income taxes are a portion of your earnings that the government collects to fund public services like Social Security, Medicare, national defense, education, and infrastructure. If you earn income, through a job, a business, or investments, you may owe income taxes.
For most people, taxes are automatically taken out of each paycheck. When you file your tax return, you calculate how much tax you should have paid, and either get a refund or pay the difference.
Do I Need to File a Tax Return?
Generally, you must file a tax return if your income exceeds a certain threshold, which depends on:
- Filing status (single, married, head of household, etc.)
- Age
- Income type (earned vs. unearned)
- Dependency status
Even if you aren’t required to file, you may still want to if you had income taxes withheld from your paycheck or if you qualify for refundable tax credits (like Earned Income Tax Credit).
What is my tax filing status?
Your filing status determines your standard deduction, tax bracket, and eligibility for certain tax benefits. Choosing the correct status is one of the first and most important steps when filing your return. Common options include:
Single
Unmarried or legally separated as of the end of the year.
Married Filing Jointly
Married couples filing one combined return.
Married Filing Separately
Married, but filing separate returns (often results in higher taxes).
Head of Household
Unmarried, supporting a dependent, and paying more than half the cost of housing.
Qualifying Widow(er)
A surviving spouse with a dependent child, available for up to two years after the year of death.
What are Tax Brackets?
Tax brackets are income ranges, each taxed at a different rate. In the United States, we use a progressive tax system, meaning the more you earn, the higher the tax rate on some of your money.
For example, let’s say you’re single,with $50,000 in taxable income. You won’t pay the same tax rate on all $50,000. The first portion of your income falls into the lower tax brackets (10%, 12%, etc.), while the remaining portion falls into a higher bracket. You only pay the higher rate on the income within that specific bracket.
Federal Income Tax Brackets 2025
| Tax Rate | Single | Married Filing Jointly | Head of Household | Married Filing Separately |
|---|---|---|---|---|
| 10% | $0 to $11,925 | $0 to $23,850 | $0 to $17,000 | $0 to $11,925 |
| 12% | $11,926 to $48,475 | $23,851 to $96,950 | $17,001 to $64,850 | $11,926 to $48,475 |
| 22% | $48,476 to $103,350 | $96,951 to $206,700 | $64,851 to $103,350 | $48,476 to $103,350 |
| 24% | $103,351 to $197,300 | $206,701 to $394,600 | $103,351 to $197,300 | $103,351 to $197,300 |
| 32% | $197,301 to $250,525 | $394,601 to $501,050 | $197,301 to $250,500 | $197,301 to $250,525 |
| 35% | $250,526 to $626,350 | $501,051 to $751,600 | $250,501 to $626,350 | $250,526 to $375,800 |
| 37% | $626,351 or more | $751,601 or more | $626,351 or more | $375,801 or more |