2024 Tax Brackets Single Irs. Below, cnbc select breaks down the updated tax brackets for. You pay tax as a percentage of your income in layers called tax brackets.
For 2024, the irs made adjustments to federal income tax brackets to account for inflation, including raising the standard deduction to $14,600 (up from $13,850) for single filers. 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%.
