IRS announces new income tax brackets for 2024
For the 2024 tax year, the Internal Revenue Service (IRS) has announced the following changes to the federal income tax brackets:
Single Filers:
Taxable Income—Tax Rate
Less than $10,000—10%
$10,000-$40,000—15%
$40,000-$97,000—25%
$97,000-$200,000—28%
$200,000-$400,000—33%
More than $400,000—35%
Married Filing Jointly or Qualifying Widow(er):
Taxable Income—Tax Rate
Less than $20,000—10%
$20,000-$80,000—15%
$80,000-$194,000—25%
$194,000-$400,000—28%
$400,000-$600,000—33%
More than $600,000—35%
Married Filing Separately:
Taxable Income—Tax Rate
Less than $10,000—10%
$10,000-$40,000—15%
$40,000-$97,000—25%
$97,000-$200,000—28%
$200,000-$300,000—33%
More than $300,000—35%
Head of Household:
Taxable Income—Tax Rate
Less than $13,000—10%
$13,000-$52,000—15%
$52,000-$125,000—25%
$125,000-$225,000—28%
$225,000-$400,000—33%
More than $400,000—35%