Irs Tax Information 2024. You pay tax as a percentage of your income in layers called tax brackets. The seven federal income tax brackets for 2024 are 10%, 12%, 22%, 24%, 32%, 35% and 37%.

The 20% tax rate starts at $583,751 for joint filers, $551,351 for heads of household and $518,901 for single filers. Check your 2024 irs federal income tax bracket to see if you fall into a lower bracket due to inflation, which could lower your tax bill next year.