For the years 2023 and 2024, there are seven federal income tax rates and brackets: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. The applicable federal tax rates and the amount of taxes owed for the year are determined by your taxable income and filing status.
The federal tax rates for 2023 and 2024 will remain unchanged until 2025 due to the Tax Cuts and Jobs Act of 2017. However, the IRS has the authority to adjust the income thresholds for each federal tax bracket annually to account for inflation.
Understanding your tax bracket and rate is crucial, regardless of your income level, as they both determine your final tax bill.
The IRS has announced its 2024 inflation adjustments, and although U.S. income tax rates will remain the same for the next two tax years, the tax brackets – the income ranges that are taxed at progressively higher rates – will change.
To help you calculate your expected tax payment, here are the tax brackets for the 2023 and 2024 tax years. Guidelines for calculating your income tax based on the top bracket that applies to you can also be found.
Table of Contents
2023 tax brackets
Federal income tax returns for 2023 are due on April 15, 2024, or October 15, 2024, with a tax extension.
2023 Tax Brackets for 2024 Tax Filings
Tax Rate | Single | Married filing jointly | Married filing separately | Head of household |
---|---|---|---|---|
10% | $0 to $11,000. | $0 to $22,000. | $0 to $11,000. | $0 to $15,700. |
12% | $11,001 to $44,725. | $22,001 to $89,450. | $11,001 to $44,725. | $15,701 to $59,850. |
22% | $44,726 to $95,375. | $89,451 to $190,750. | $44,726 to $95,375. | $59,851 to $95,350. |
24% | $95,376 to $182,100. | $190,751 to $364,200. | $95,376 to $182,100. | $95,351 to $182,100. |
32% | $182,101 to $231,250. | $364,201 to $462,500. | $182,101 to $231,250. | $182,101 to $231,250. |
35% | $231,251 to $578,125. | $462,501 to $693,750. | $231,251 to $346,875. | $231,251 to $578,100. |
37% | $578,126 or more. | $693,751 or more. | $346,876 or more. | $578,101 or more. |
The income thresholds for the 2023 tax brackets have been adjusted by approximately 7% from 2022 due to record-high inflation. As a result, some individuals may find themselves in a lower tax bracket than before.
2023 Tax Brackets for Taxes Due in April 2024
The federal income tax brackets for the 2023 tax year, which refers to the return to be filed in 2024, will remain the same as the previous years. These brackets include 10%, 12%, 22%, 24%, 32%, 35%, and 37%. Your bracket will be determined by your filing status and taxable income, including wages.
2023 tax brackets: Single Filer
Tax Rate | Taxable income bracket | Tax owed |
---|---|---|
10% | $0 to $11,000. | 10% of taxable income. |
12% | $11,001 to $44,725. | $1,100 plus 12% of the amount over $11,000. |
22% | $44,726 to $95,375. | $5,147 plus 22% of the amount over $44,725. |
24% | $95,376 to $182,100. | $16,290 plus 24% of the amount over $95,375. |
32% | $182,101 to $231,250. | $37,104 plus 32% of the amount over $182,100. |
35% | $231,251 to $578,125. | $52,832 plus 35% of the amount over $231,250. |
37% | $578,126 or more. | $174,238.25 plus 37% of the amount over $578,125. |
2023 tax brackets: Married Filing Jointly
Tax Rate | Taxable income bracket | Tax owed |
---|---|---|
10% | $0 to $22,000. | 10% of taxable income. |
12% | $22,001 to $89,450. | $2,200 plus 12% of the amount over $22,000. |
22% | $89,451 to $190,750. | $10,294 plus 22% of the amount over $89,450. |
24% | $190,751 to $364,200. | $32,580 plus 24% of the amount over $190,750. |
32% | $364,201 to $462,500. | $74,208 plus 32% of the amount over $364,200. |
35% | $462,501 to $693,750. | $105,664 plus 35% of the amount over $462,500. |
37% | $693,751 or more. | $186,601.50 + 37% of the amount over $693,750. |
2023 tax brackets3: Married Filing Separately
Tax Rate | Taxable income bracket | Tax owed |
---|---|---|
10% | $0 to $11,000. | 10% of taxable income. |
12% | $11,001 to $44,725. | $1,100 plus 12% of the amount over $11,000. |
22% | $44,726 to $95,375. | $5,147 plus 22% of the amount over $44,725. |
24% | $95,376 to $182,100. | $16,290 plus 24% of the amount over $95,375. |
32% | $182,101 to $231,250. | $37,104 plus 32% of the amount over $182,100. |
35% | $231,251 to $346,875. | $52,832 plus 35% of the amount over $231,250. |
37% | $346,876 or more. | $93,300.75 plus 37% of the amount over $346,875. |
2023 tax brackets: Head of Household
Tax Rate | Taxable income bracket | Tax owed |
---|---|---|
10% | $0 to $15,700. | 10% of taxable income. |
12% | $15,701 to $59,850. | $1,570 plus 12% of the amount over $15,700. |
22% | $59,851 to $95,350. | $6,868 plus 22% of the amount over $59,850. |
24% | $95,351 to $182,100. | $14,678 plus 24% of the amount over $95,350. |
32% | $182,101 to $231,250. | $35,498 plus 32% of the amount over $182,100. |
35% | $231,251 to $578,100. | $51,226 plus 35% of the amount over $231,250. |
37% | $578,101 or more. | $172,623.50 plus 37% of the amount over $578,100. |
2024 Tax Brackets for Taxes Due in April 2025
For the 2024 tax year, and the return due in 2025, there will be seven federal tax brackets: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. Your filing status and taxable income, including wages, will determine the bracket you are in.
Tax Rate | Single | Married filing jointly | Married filing separately | Head of household |
---|---|---|---|---|
10% | $0 to $11,600. | $0 to $23,200. | $0 to $11,600. | $0 to $16,550. |
12% | $11,601 to $47,150. | $23,201 to $94,300. | $11,601 to $47,150. | $16,551 to $63,100. |
22% | $47,151 to $100,525. | $94,301 to $201,050. | $47,151 to $100,525. | $63,101 to $100,500. |
24% | $100,526 to $191,950. | $201,051 to $383,900. | $100,526 to $191,950. | $100,501 to $191,950. |
32% | $191,951 to $243,725. | $383,901 to $487,450. | $191,951 to $243,725. | $191,951 to $243,700. |
35% | $243,726 to $609,350. | $487,451 to $731,200. | $243,726 to $365,600. | $243,701 to $609,350. |
37% | $609,351 or more. | $731,201 or more. | $365,601 or more. | $609,350 or more. |
Each tax bracket will experience a roughly 5.4% increase starting in 2023. This means that taxpayers whose salaries have not kept up with inflation may be able to protect more of their income from higher tax rates this year. The tax rates for 2024, ranging from 10% to 37%, remain unchanged from previous years.
2024 Tax Brackets: Single Filer
Tax Rate | Taxable income bracket | Tax owed |
---|---|---|
10% | $0 to $11,600. | 10% of taxable income. |
12% | $11,601 to $47,150. | $1,160 plus 12% of the amount over $11,600. |
22% | $47,151 to $100,525. | $5,426 plus 22% of the amount over $47,150. |
24% | $100,526 to $191,950. | $17,168.50 plus 24% of the amount over $100,525. |
32% | $191,951 to $243,725. | $39,110.50 plus 32% of the amount over $191,950. |
35% | $243,726 to $609,350. | $55,678.50 plus 35% of the amount over $243,725. |
37% | $609,351 or more. | $183,647.25 plus 37% of the amount over $609,350. |
2024 Tax Brackets: Married Filing Jointly
Tax rate | Taxable income bracket | Taxes owed |
---|---|---|
10% | $0 to $23,200. | 10% of taxable income. |
12% | $23,201 to $94,300. | $2,320 plus 12% of the amount over $23,200. |
22% | $94,301 to $201,050. | $10,852 plus 22% of the amount over $94,300. |
24% | $201,051 to $383,900. | $34,337 plus 24% of the amount over $201,050. |
32% | $383,901 to $487,450. | $78,221 plus 32% of the amount over $383,900. |
35% | $487,451 to $731,200. | $111,357 plus 35% of the amount over $487,450. |
37% | $731,201 or more. | $196,669.50 + 37% of the amount over $731,200. |
2024 Tax Brackets: Married Filing Separately
Tax rate | Taxable income bracket | Taxes owed |
---|---|---|
10% | $0 to $11,600. | 10% of taxable income. |
12% | $11,601 to $47,150. | $1,160 plus 12% of the amount over $11,600. |
22% | $47,151 to $100,525. | $5,426 plus 22% of the amount over $47,150. |
24% | $100,526 to $191,950. | $17,168.50 plus 24% of the amount over $100,525. |
32% | $191,951 to $243,725. | $39,110.50 plus 32% of the amount over $191,950. |
35% | $243,726 to $365,600 | $55,678.50 plus 35% of the amount over $243,725. |
37% | $365,601 or more. | $98,334.75 plus 37% of the amount over $365,600. |
2024 Tax Brackets: Head of Household
Tax rate | Taxable income bracket | Tax owed |
---|---|---|
10% | $0 to $16,550. | 10% of taxable income. |
12% | $16,551 to $63,100. | $1,655 plus 12% of the amount over $16,500. |
22% | $63,101 to $100,500. | $7,241 plus 22% of the amount over $63,100. |
24% | $100,501 to $191,950. | $15,469 plus 24% of the amount over $100,500. |
32% | $191,951 to $243,700. | $37,417 plus 32% of the amount over $191,950. |
35% | $243,701 to $609,350. | $53,977 plus 35% of the amount over $243,700. |
37% | $609,350 or more. | $181,954.50 plus 37% of the amount over $609,350. |
Tax Brackets: An Overview
The IRS created tax brackets to implement America's progressive tax system, which taxes higher levels of income at progressively higher rates. Tax brackets determine the amount of money you owe the IRS each year, based on your income.
As your taxable income increases, so does the amount of taxes you owe.
Understanding Tax Brackets:
Calculating your tax liability is not as simple as comparing your income to the tax brackets listed. For instance, if you are single and your taxable income for 2024 is $75,000, your top tax rate, or marginal rate, is 22%. However, a portion of your income will be taxed at lower rates of 10% and 12%.
As your income increases, it is subject to higher tax rates.
- The initial $11,600 is subject to a 10% tax. $1,160
- The following $35,550 ($47,150 – $11,600) will be taxed at a rate of 12%. and $4,266
- The final $27,850, which is the difference between $75,000 and $47,150, is subject to a 22% tax rate. $6,127
For your $75,000 income, the total tax amount is $11,553. This includes $1,160 for federal income tax, $4,266 for Social Security tax, and $6,127 for Medicare tax. Please note that this calculation does not take into account any itemized or standard deductions that may apply to your taxes.
Determining Your Federal Income Tax Bracket
To calculate your taxes, divide your income into portions that will be taxed in each applicable bracket. Each bracket has its own tax rate, and your filing status determines the bracket you're in. If you're a single filer, married filing jointly, married filing separately, or head of household, you'll fall into a specific bracket.
What Is a Marginal Tax Rate?
Your marginal tax bracket is the bracket your top dollar of income falls into, and it has the highest tax rate that applies to the top portion of your income. Use our federal income tax bracket calculator below to determine your marginal tax percentage.
What is an Effective Tax Rate?
Your marginal tax rate refers to your highest tax bracket, while your effective tax rate is the average amount of taxes you will pay. To calculate your effective tax rate, divide your total taxes by your taxable income.
For example, if you are single and your taxable income for 2024 is $27,050, you can expect to pay $3,014 in taxes. Your marginal tax rate is 12%, but your effective tax rate is 11.1% ($3,014 divided by $27,050).
Lowering Your Tax Bracket: A Guide
Tax deductions, such as those for charitable donations, property taxes, and mortgage interest, can help lower your taxable income and prevent you from reaching a higher tax bracket. It is important to take advantage of these opportunities to minimize your tax liability.
Additionally, tax credits like the earned income tax credit or child tax credit can also reduce the amount of taxes you owe.
Depending on your financial situation, you can use tax deductions and credits to lower the amount you pay in taxes each year.
Pro Tip:
Consider different tax strategies to move into a lower tax bracket, such as contributing more money into a retirement account or taking advantage of employee benefits that reduce your taxable income. While a higher income is desirable, it also results in a higher tax bill. It may be beneficial to consult with a tax professional to develop strategies that will lower your taxable income and move you into a lower tax bracket.
Evolution of Income Tax Brackets and Rates
The IRS adjusts income tax brackets and rates annually to comply with current tax laws. In 2013, the top tax rate for higher-income earners was 39.6%, but it has since decreased to 37%.
In 2019, a married couple filing jointly with a household income of $600,000 would have been taxed at a top rate of 37%. However, in 2024, the same couple with the same income would only be taxed at a top rate of 35%.
Income tax brackets and rates continue to change. The tax bracketed rates have been in place since the introduction of income tax in 1913, with the highest rate reaching 94%. The top tax rate of 37% took effect in 2018 and applies to a portion of a person's income based on their tax bracket.
2022 Federal Income Tax Brackets
Tax Rate | Single Filers | Married Filing Jointly | Married Filing Separately | Head Of Household |
---|---|---|---|---|
10% | $0 to $10,275 | $0 to $20,550 | $0 to $10,275 | $0 to $14,650. |
12% | $10,276 to $41,775 | $20,551 to $83,550 | $10,276 to $41,775 | $14,651 to $55,900 |
22% | $41,776 to $89,075 | $83,551 to $178,150 | $41,776 to $89,075 | $55,901 to $89,050 |
24% | $89,076 to $170,050 | $178,151 to $340,100 | $89,076 to $170,050 | $89,051 to $170,050 |
32% | $170,051 to $215,950 | $340,101 to $431,900 | $170,051 to $215,950 | $170,051 to $215,950 |
35% | $215,951 to $539,900 | $431,901 to $647,850 | $215,951 to $323,925 | $215,951 to $539,900 |
37% | $539,901 or more | $647,851 or more | $323,926 or more | $539,901 or more |
2021 Federal Income Tax Brackets
Tax Rate | Single Filers | Married Filing Jointly | Married Filing Separately | Head Of Household |
---|---|---|---|---|
10% | $0 to $9,950 | $0 to $19,900 | $0 to $9,950 | $0 to $14,200 |
12% | $9,951 to $40,525 | $19,901 to $81,050 | $9,951 to $40,525 | $14,201 to $54,200 |
22% | $40,526 to $86,375 | $81,051 to $172,750 | $40,526 to $86,375 | $54,201 to $86,350 |
24% | $86,376 to $164,925 | $172,751 to $329,850 | $86,376 to $164,925 | $86,351 to $164,900 |
32% | $164,926 to $209,425 | $329,851 to $418,850 | $164,926 to $209,425 | $164,901 to $209,400 |
35% | $164,926 to $209,425 | $418,851 to $628,300 | $209,426 to $314,150 | $209,401 to $523,600 |
37% | $523,601 or more | $628,301 or more | $314,151 or more | $523,601 or more |
2020 Federal Income Tax Brackets
Tax Rate | Single Filers | Married Filing Jointly | Married Filing Separately | Head Of Household |
---|---|---|---|---|
10% | $0 to $9,875 | $0 to $19,750 | $0 to $9,875 | $0 to $14,100 |
12% | $9,876 to $40,125 | $19,751 to $80,250 | $9,876 to $40,125 | $14,101 to $53,700 |
22% | $40,126 to $85,525 | $80,251 to $171,050 | $40,126 to $85,525 | $53,701 to $85,500 |
24% | $85,526 to $163,300 | $171,051 to $326,600 | $85,526 to $163,300 | $85,501 to $163,300 |
32% | $163,301 to $207,350 | $326,601 to $414,700 | $163,301 to $207,350 | $163,301 to $207,350 |
35% | $207,351 to $518,400 | $414,701 to $622,050 | $207,351 to $311,025 | $207,351 to $518,400 |
37% | $518,401 or more | $622,051 or more | $311,026 or more | $518,401 or more |
2019 Federal Income Tax Brackets
Tax Rate | Single Filers | Married Filing Jointly | Married Filing Separately | Head Of Household |
---|---|---|---|---|
10% | $0 to $9,700 | $0 to $19,400 | $0 to $9,700 | $0 to $13,850 |
12% | $9,701 to $39,475 | $19,401 to $78,950 | $9,701 to $39,475 | $13,851 to $52,850 |
22% | $39,476 to $84,200 | $78,951 to $168,400 | $39,476 to $84,200 | $52,851 to $84,200 |
24% | $84,201 to $160,725 | $168,401 to $321,450 | $84,201 to $160,725 | $84,201 to $160,700 |
32% | $160,726 to $204,100 | $321,451 to $408,200 | $160,726 to $204,100 | $160,701 to $204,100 |
35% | $204,101 to $510,300 | $408,201 to $612,350 | $204,101 to $306,175 | $204,101 to $510,300 |
37% | $510,301 or more | $612,351 or more | $306,176 or more | $510,301 or more |
2018 Federal Income Tax Brackets
Tax Rate | Single Filers | Married Filing Jointly | Married Filing Separately | Head Of Household |
---|---|---|---|---|
10% | $0 to $9,525 | $0 to $19,050 | $0 to $9,525 | $0 to $13,600 |
12% | $9,526 to $38,700 | $19,051 to $77,400 | $9,526 to $38,700 | $13,601 to $51,800 |
22% | $38,701 to $82,500 | $77,401 to $165,000 | $38,701 to $82,500 | $51,801 to $82,500 |
24% | $82,501 to $157,500 | $165,001 to $315,000 | $82,501 to $157,500 | $82,501 to $157,500 |
32% | $157,501 to $200,000 | $315,001 to $400,000 | $157,501 to $200,000 | $157,501 to $200,000 |
35% | $200,001 to $500,000 | $400,001 to $600,000 | $200,001 to $300,000 | $200,001 to $500,000 |
37% | $500,001 or more | $600,001 or more | $300,001 or more | $500,001 or more |
2017 Federal Income Tax Brackets
Tax Rate | Single Filers | Married Filing Jointly | Married Filing Separately | Head Of Household |
---|---|---|---|---|
10% | $0 to $9,325 | $0 to $18,650 | $0 to $9,325 | $0 to $13,350 |
15% | $9,326 to $37,950 | $18,651 to $75,900 | $9,326 to $37,950 | $13,351 to $50,800 |
25% | $37,951 to $91,900 | $75,901 to $153,100 | $37,951 to $76,550 | $50,801 to $131,200 |
28% | $91,901 to $191,650 | $153,101 to $233,350 | $76,551 to $116,675 | $131,201 to $212,500 |
33% | $191,651 to $416,700 | $233,351 to $416,700 | $116,676 to $208,350 | $212,501 to $416,700 |
35% | $416,701 to $418,400 | $416,701 to $470,700 | $208,351 to $235,350 | $416,701 to $444,550 |
40% | $418,401 or more | $470,701 or more | $235,351 or more | $444,551 or more |
2016 Federal Income Tax Brackets
Tax Rate | Single Filers | Married Filing Jointly | Married Filing Separately | Head Of Household |
---|---|---|---|---|
10% | $0 to $9,275 | $0 to $18,550 | $0 to $9,275 | $0 to $13,250 |
15% | $9,276 to $37,650 | $18,550 to $75,300 | $9,275 to $37,650 | $13,250 to $50,400 |
25% | $37,650 to $91,150 | $75,300 to $151,900 | $37,650 to $75,950 | $50,400 to $130,150 |
28% | $91,150 to $190,150 | $151,900 to $231,450 | $75,950 to $115,725 | $130,150 to $210,800 |
33% | $190,150 to $413,350 | $231,450 to $413,350 | $115,725 to $206,675 | $210,800 to $413,350 |
35% | $413,350 to $415,050 | $413,350 to $466,950 | $206,675 to $233,475 | $413,350 to $441,000 |
40% | $415,050 or more | $466,950 or more | $233,475 or more | $441,000 or more |
2015 Federal Income Tax Brackets
Tax Rate | Single Filers | Married Filing Jointly | Married Filing Separately | Head Of Household |
---|---|---|---|---|
10% | $0 to $9,225 | $0 to $18,450 | $0 to $9,225 | $0 to $13,150 |
15% | $9,226 to $37,450 | $18,451 to $74,900 | $9,226 to $37,450 | $13,151 to $50,200 |
25% | $37,451 to $90,750 | $74,901 to $151,200 | $37,451 to $75,600 | $50,201 to $129,600 |
28% | $90,751 to $189,300 | $151,201 to $230,450 | $75,601 to $115,225 | $129,601 to $209,850 |
33% | $189,301 to $411,500 | $230,451 to $411,500 | $115,226 to $205,750 | $209,851 to $411,500 |
35% | $411,501 to $413,200 | $411,501 to $464,850 | $205,751 to $232,425 | $411,501 to $439,000 |
40% | $413,201 or more | $464,851 or more | $232,426 or more | $439,001 or more |
2014 Federal Income Tax Brackets
Tax Rate | Single Filers | Married Filing Jointly | Married Filing Separately | Head Of Household |
---|---|---|---|---|
10% | $0 to $9,075 | $0 to $18,150 | $0 to $9,075 | $0 to $12,950 |
15% | $9,076 to $36,900 | $18,151 to $73,800 | $9,076 to $36,900 | $12,951 to $49,400 |
25% | $36,901 to $89,350 | $73,801 to $148,850 | $36,901 to $74,425 | $49,401 to $127,550 |
28% | $89,351 to $186,350 | $148,851 to $226,850 | $74,426 to $113,425 | $127,551 to $206,600 |
33% | $186,351 to $405,100 | $226,851 to $405,100 | $113,426 to $202,550 | $206,601 to $405,100 |
35% | $405,101 to $406,750 | $405,101 to $457,600 | $202,551 to $228,800 | $405,101 to $432,200 |
40% | $406,751 or more | $457,601 or more | $228,801 or more | $432,201 or more |
2013 Federal Income Tax Brackets
Tax Rate | Single Filers | Married Filing Jointly | Married Filing Separately | Head Of Household |
---|---|---|---|---|
10% | $0 to $8,925 | $0 to $17,850 | $0 to $8,925 | $0 to $12,750 |
15% | $8,926 to $36,250 | $17,851 to $72,500 | $8,926 to $36,250 | $12,751 to $48,600 |
25% | $36,251 to $87,850 | $72,501 to $146,400 | $36,251 to $73,200 | $48,601 to $125,450 |
28% | $87,851 to $183,250 | $146,401 to $223,050 | $73,201 to $111,525 | $125,451 to $203,150 |
33% | $183,251 to $398,350 | $223,051 to $398,350 | $111,526 to $199,175 | $203,151 to $398,350 |
35% | $398,351 to $400,000 | $398,351 to $450,000 | $199,176 to $225,000 | $398,351 to $425,000 |
40% | $400,001 or more | $450,001 or more | $225,001 or more | $425,001 or more |
2012 Federal Income Tax Brackets
Tax Rate | Single Filers | Married Filing Jointly | Married Filing Separately | Head Of Household |
---|---|---|---|---|
10% | $0 to $8,700 | $0 to $17,400 | $0 to $8,700 | $0 to $12,400 |
15% | $8,701 to $35,350 | $17,401 to $70,700 | $8,701 to $35,350 | $12,401 to $47,350 |
25% | $35,351 to $85,650 | $70,701 to $142,700 | $35,351 to $71,350 | $47,351 to $122,300 |
28% | $85,651 to $178,650 | $142,701 to $217,450 | $71,351 to $108,725 | $122,301 to $198,050 |
33% | $178,651 to $388,350 | $217,451 to $388,350 | $108,726 to $194,175 | $198,051 to $388,350 |
35% | $388,351 or more | $388,351 or more | $194,1756 or more | $388,351 or more |
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