A tap holder includes a body extending along an axis and having a front end portion defining a front opening and an externally threaded portion. A gripping assembly includes a spring having first and second legs, a first jaw mounted to the first leg, and a second jaw mounted to the second leg. Each jaw has a tapered outer wall and an inner wall with the inner walls of the jaws facing each other. A sleeve has an internally threaded bore threadably received on the externally threaded portion of the body, and an inner tapered surface configured to abut the tapered outer walls of the first and second jaws. As the sleeve is rotated relative to the body, a distance between the first and second gripping surfaces may be adjusted for gripping a tap between the inner walls of the first and second jaws. Each of the inner walls includes first and second gripping surfaces, the first gripping surfaces defining a first width therebetween for gripping taps having a first range of head sizes, and the second gripping surfaces defining a larger second width therebetween for gripping taps having a second, different range of head sizes.