To determine the federal income tax owed on $200,000, we need to consider the tax brackets for the tax year. I’ll base this on the 2022 tax brackets for a single filer…

• The first $10,275 is taxed at 10%
• Income between $10,276 and $41,775 is taxed at 12%
• Income between $41,776 and $89,075 is taxed at 22%
• Income between $89,076 and $170,050 is taxed at 24%
• Income between $170,051 and $215,950 is taxed at 32%

Given an income of $200,000, here’s how you would calculate the federal income tax…

1. Tax on the first $10,275: $10,275 * 0.10 = $1,027.50
2. Tax on the next $31,500 ($41,775 – $10,275): $31,500 * 0.12 = $3,780
3. Tax on the next $47,300 ($89,075 – $41,775): $47,300 * 0.22 = $10,406
4. Tax on the next $80,975 ($170,050 – $89,075): $80,975 * 0.24 = $19,434
5. Tax on the remaining income ($200,000 – $170,050): $29,950 * 0.32 = $9,584

Total federal income tax would be the sum of these amounts…

$1,027.50 + $3,780 + $10,406 + $19,434 + $9,584 = $44,231.50

So, if you earn $200,000 in 2022 as a single filer, your federal income tax liability would be approximately $44,231.50. This calculation doesn’t take into account any deductions, credits, or adjustments you might be eligible for, which could lower your actual tax liability.