Irs Tax Brackets 2024. The 2024 tax year, and the return due in 2025, will continue with these seven federal tax brackets: 29, 2024, as the official start date of the nation's 2024 tax season when the agency will begin accepting and processing 2023 tax returns.
The irs reports that, as of march, 8, 2024, it had received about 62.8 million tax returns and refunded $135.3 billion to u.s. Again, the 2023 tax season began six days.
Your Bracket Depends On Your Taxable Income And Filing Status.
Federal income tax is calculated based on seven tax brackets, which depend on the taxpayerโs income and tax filing status.
The Federal Income Tax Has Seven Tax Rates In 2024
Federal tax brackets and tax rates.
As In 2023, The Marginal Tax Rate(S) Of 10%, 12%, 22%, 24%, 32%, 35%, And 37% Will Be In Effect In 2024.
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Tax Brackets For People Filing As Single Individuals For 2024.
Any excess income is taxed at the next bracket.
The Marginal Rates โ 10%, 12%, 22%, 24%, 32%, 35% And 37% โ Remain Unchanged From 2023.
35% for incomes over $243,725.
The Income Within Each Federal Tax Bracket Is Taxed At The Specified Rate.