The IRS adjusts tax brackets annually for inflation. Below are the 2024 federal income tax rates for the most common filing statuses.
Standard Deduction: $14,600
| Tax Rate | Taxable Income |
|---|---|
| 10% | Up to $11,600 |
| 12% | $11,601 – $47,150 |
| 22% | $47,151 – $100,525 |
| 24% | $100,526 – $191,950 |
| 32% | $191,951 – $243,725 |
| 35% | $243,726 – $609,350 |
| 37% | Over $609,350 |
Standard Deduction: $29,200
| Tax Rate | Taxable Income |
|---|---|
| 10% | Up to $23,200 |
| 12% | $23,201 – $94,300 |
| 22% | $94,301 – $201,050 |
| 24% | $201,051 – $383,900 |
| 32% | $383,901 – $487,450 |
| 35% | $487,451 – $731,200 |
| 37% | Over $731,200 |