If a taxpayer and their spouse are Married Filing Jointly with a taxable income of $150,000, are they in the 22% tax bracket?

To determine if a married couple filing jointly with a taxable income of $150,000 is in the 22% tax bracket, it's important to refer to the tax brackets established for the relevant tax year. As of the tax year 2023, the income ranges for the various tax brackets are defined distinctly.

For married couples filing jointly, the tax brackets are structured such that for taxable incomes over certain thresholds, the rate increases. The threshold for the 12% tax rate for this filing status generally applies to incomes up to approximately $89,450. Incomes between that amount and around $190,750 fall into the 22% tax bracket. Since the taxable income of $150,000 surpasses the 12% threshold but remains below the 190,750 limit, it indeed falls specifically into the 22% tax bracket.

Therefore, confirming that taxpayers with a combined taxable income of $150,000 are indeed within the 22% range as defined by the IRS for the year in question. This explanation clarifies why the chosen answer is accurate based on the current tax bracket structure for married couples filing jointly.