I am looking back at my 2021 tax return. On my Form 1040, Line 15 shows $78,751. And Line 16 shows $20,702. This means that I'm paying 26% tax. Isn't it high?
I just checked with this IRS link. It shows that my tax should have been $12,948 (married filing separately). Why is there such a huge difference? Which one is correct?
