2024 tax brackets

income tax brackets for 2024

 

 The U.S. federal income tax brackets for 2024 

have been adjusted for inflation. Here’s a summary for different filing statuses:

Tax Rates and Brackets for 2024 

Single Filers:

10%: Up to $11,600 12%: $11,600 – $47,150 22%: $47,150 – $100,525 24%: $100,525 – $191,950 32%: $191,950 – $243,725 35%: $243,725 – $609,350 37%: Over $609,350 

Married Filing Jointly:

10%: Up to $23,200 12%: $23,200 – $94,300 22%: $94,300 – $201,050 24%: $201,050 – $383,900 32%: $383,900 – $487,450 35%: $487,450 – $731,200 37%: Over $731,200 

Heads of Household:

10%: Up to $16,550 12%: $16,550 – $63,100 22%: $63,100 – $100,500 24%: $100,500 – $191,950 32%: $191,950 – $243,700 35%: $243,700 – $609,350 37%: Over $609,350 Standard Deduction for 2024: Single filers: $14,600 Married filing jointly: $29,200 Head of household: $21,900 

These brackets reflect marginal rates, meaning only the income within each bracket is taxed at that rate. For example, if you're a single filer earning $50,000, only the portion above $47,150 is taxed at 22%; the rest is taxed at lower rates.

For more details, you can refer to the IRS announcement and analysis from trusted sources like Kiplinger and the Tax Foundation【6†source】【7†source】【8†source】.