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What are the tax brackets for 2024?
Answered by verified global tax professionalsJulian Alejandro MejiaMaster of Science Taxation, CPA (US) · 4 years of exp
For single filers, the tax brackets for 2024 are: 10%: Taxable income up to $11,600 12%: Taxable income...Read moreSidharth Gehlawat
The federal income tax has seven tax rates in 2024: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. The top marginal income tax rate o...Read moreDisclaimer: Opinions are from external tax professionals and should not be considered as Microsoft’s opinion or a substitute for professional help. Consult a tax professional for advice.
- The new tax brackets for 2023 vs 2022 are12:
- The same seven federal income tax brackets: 10%, 12%, 22%, 24%, 32%, 35% and 37%.
- Adjusted for high inflation, around seven percent higher than 2022.
- Based on your filing status and taxable income, including wages.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Below, for comparison, are tax brackets and the standard deduction for income earned in 2022, which taxpayers will file with the IRS in 2023, and for income earned in 2023, which taxpayers will file with the IRS in 2024. Income tax brackets and the standard deduction are moving up around seven percent to account for high inflation.www.ntu.org/foundation/detail/what-are-federal-inc…The 2023 tax year will have the same seven federal income tax brackets as the 2022-2023 season: 10%, 12%, 22%, 24%, 32%, 35% and 37%. Your filing status and taxable income, including wages, will determine the bracket you’re in.www.msn.com/en-us/money/taxes/new-irs-tax-inco… - People also ask
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