2024 Income Tax Brackets Chart. For tax year 2024, which applies to taxes filed in 2025, there are seven federal tax brackets with income tax rates of 10%, 12%, 22%, 24%, 32, 35%, and 37%. Under the old tax regime, the tax liability for a taxpayer who earns ₹15 lakh per annum is ₹1,35,000 higher.
For tax year 2024, the top tax rate remains 37% for individual single taxpayers with incomes greater than $609,350 ($731,200 for married couples filing. 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:
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Remember, these aren't the amounts you file for your tax return, but rather the amount of tax you're going to pay.
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The income thresholds for each bracket, though, are adjusted slightly every year.
2024 Income Tax Brackets Chart Images References :
10%, 12%, 22%, 24%, 32%, 35% And 37%.
The seven federal income tax brackets for 2024 are 10%, 12%, 22%, 24%, 32%, 35% and 37%.
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The irs uses 7 brackets to calculate your tax bill based on your income and filing status.