Fed Tax Rates 2024 Table

Fed Tax Rates 2024 Table. Instead, the irs assigns your income to brackets with tax rates that increase as you earn more money. There are seven federal tax brackets for tax year 2024.

In 2024, the income limits for all tax brackets and all filers will be adjusted for inflation and will be as follows (table 1). As your income goes up, the tax rate on the next layer of income is higher.