2024 Income Tax Brackets And Rates. The irs uses 7 brackets to calculate your tax bill based on your income and filing status. The federal income tax rates remain unchanged for the 2024 tax year at 10%, 12%, 22%, 24%, 32%, 35% and 37%.
Your taxable income and filing status determine both the tax rate and bracket that apply to you, outlining the amount you’ll owe on different portions of your income. There are seven (7) tax rates in 2024.