2024 Irs Tax Rates And Brackets

2024 Irs Tax Rates And Brackets. Below, cnbc select breaks down the updated tax brackets for 2024 and what you need to know about them. The 2023 tax year—meaning the return you’ll file in 2024—will have the same seven federal income tax brackets as the last few seasons:

This applies to all taxable income earned during the calendar year of 2024. The internal revenue service (irs) adjusts tax brackets for inflation each year, and because inflation remains high, it’s possible you could fall into a lower bracket for the income you earn in 2024.