What is My Tax Bracket for the 2024 Tax Year?

It's never too early to start looking at your tax obligations for the coming tax season. The information in this article is for the 2024 tax year, which most taxpayers will file in 2025.

The seven 2024 tax rates themselves didn't change (they are the same as those in effect for the 2023 tax year); however, the tax bracket ranges were modified based on inflation. Because of this, it's possible you could be in a different tax bracket for 2024 than the last time you reported your taxes, even if your income has not changed.¹

Reminder: Tax Brackets Are Marginal

The IRS divides income into different tax rates. Each subsequent portion of your income will have an increased tax rate. For example, if you are a single filer who made $44,725 in 2024, your first $11,600 will be taxed at 10 percent. The next portion of your income will be taxed at an increased rate; from $11,601 to $44,725, your tax rate will be 12 percent. 

As your income increases, you’ll fall into higher tax brackets and will have a higher tax rate for each portion of your income. 

Why Would My Tax Bracket Be Different? 

The IRS regularly adjusts tax brackets to take inflation into consideration. This is because, with inflation, people will face higher prices, meaning the purchasing power of their dollar is decreased. Knowing this, the IRS adjusts brackets in order to avoid bracket creep, a circumstance that occurs when inflation pushes your income into a higher tax bracket, or credits and deductions are reduced. In this scenario, an individual may not actually have increased purchasing power or greater disposable income, even with an increase in wages and salaries.

2024 Tax Brackets 

Without further ado, here are the 2024 tax brackets according to your filing status and income from the IRS.²

10% Tax Rate

• Single Individuals: from $0 to $11,600
• Married Individuals Filing Jointly: from $0 to $23,200
• Heads of Households: from $0 to $16,550
• Married Individuals Filing Separately: from $0 to $11,600

12% Tax Rate

• Single Individuals: from $11,601 to $47,150
• Married Individuals Filing Jointly: from $23,201 to $94,300   
• Heads of Households: from $16,551 to $63,100
• Married Individuals Filing Separately: from $11,601 to $47,150

22% Tax Rate

• Single Individuals: from $47,151 to $100,525
• Married Individuals Filing Jointly: from $94,301 to $201,050       
• Heads of Households: from $63,101 to $100,500
• Married Individuals Filing Separately: from $47,151 to $100,525

24% Tax Rate

• Single Individuals: from $100,526 to $191,950        
• Married Individuals Filing Jointly: from $201,051 to $383,900
• Heads of Households: from $100,501 to $191,950
• Married Individuals Filing Separately: from $100,526 to $191,950

32% Tax Rate

• Single Individuals: from $191,951 to $243,725  
• Married Individuals Filing Jointly: from $383,901 to $487,450        
• Heads of Households: from $191,951 to $243,700
• Married Individuals Filing Separately: from $191,951 to $243,725

35% Tax Rate

• Single Individuals: $243,726 to $609,350
• Married Individuals Filing Jointly: from $487,451 to $731,200
• Heads of Households: from $243,701 to $609,350
• Married Individuals Filing Separately: from $243,726 to $365,600

37% Tax Rate

• Single Individuals: over $609,351    
• Married Individuals Filing Jointly: over $731,201
• Heads of Households: over $609,351
• Married Individuals Filing Separately: over $365,601

In addition to the tax inflation adjustments, the IRS also altered standard deductions. While the above rates and brackets are at the federal level, different states might have varying brackets and rates.