Federal income tax rates depend on how much you earn and your filing status
The federal government taxes your income at different rates depending on your total earnings for the year. The rate you pay is not the same for every dollar — instead, your income is divided into tax brackets, and each bracket has its own rate. The more you earn, the higher the bracket you enter, but only the money in that bracket gets taxed at the higher rate.
For 2024, the federal tax rates are 10%, 12%, 22%, 24%, 32%, 35%, and 37%. Which brackets apply to you depends on whether you file as single, married filing jointly, married filing separately, or head of household. Your filing status changes which income amounts trigger each rate.
Key Takeaways
- Tax brackets are ranges of income, not single amounts — only the money within each bracket gets taxed at that bracket's rate.
- Your filing status (single, married filing jointly, head of household, or married filing separately) determines which income amounts fall into each bracket.
- Tax brackets change each year based on inflation, so the dollar amounts that trigger each rate are different in 2024 than they were in 2023.
- The tax rate you see on a paycheck stub is your employer's estimate based on your W-4 form, not your actual tax bill for the year.
- Self-employed people pay both the employee and employer portions of Social Security and Medicare tax, which adds roughly 15.3% on top of income tax.
2024 federal tax brackets for each filing status
Tax brackets shift each year. Below are the 2024 ranges. If your income falls within a bracket, only the portion in that bracket is taxed at that rate.
| Tax Rate | Single Filers | Married Filing Jointly | Head of Household | Married Filing Separately |
|---|---|---|---|---|
| 10% | $0 to $11,600 | $0 to $23,200 | $0 to $17,400 | $0 to $11,600 |
| 12% | $11,601 to $47,150 | $23,201 to $94,300 | $17,401 to $66,550 | $11,601 to $47,150 |
| 22% | $47,151 to $100,525 | $94,301 to $201,050 | $66,551 to $100,525 | $47,151 to $100,525 |
| 24% | $100,526 to $191,950 | $201,051 to $383,900 | $100,526 to $191,950 | $100,526 to $191,950 |
| 32% | $191,951 to $243,725 | $383,901 to $487,450 | $191,951 to $243,700 | $191,951 to $243,725 |
| 35% | $243,726 to $609,350 | $487,451 to $731,200 | $243,701 to $609,350 | $243,726 to $365,600 |
| 37% | $609,351+ | $731,201+ | $609,351+ | $365,601+ |
These brackets apply to your taxable income, which is your total income minus deductions. Most people take the standard deduction — a flat amount that reduces taxable income automatically. For 2024, the standard deduction is $14,600 for single filers and $29,200 for married couples filing jointly. If you earn less than the standard deduction, you owe no federal income tax.
How tax brackets work with an example
Suppose you are single and earned $60,000 in 2024. After the standard deduction of $14,600, your taxable income is $45,400. You do not pay 12% on all of it. Instead, the first $11,600 is taxed at 10%, and the remaining $33,800 is taxed at 12%.
The math: ($11,600 × 0.10) + ($33,800 × 0.12) = $1,160 + $4,056 = $5,216 in federal income tax. Your effective tax rate — the percentage of your total income that goes to taxes — is about 8.7%, even though you are in the 12% bracket. This is why earning more money always results in more take-home pay, even though you move into a higher bracket.
What your paycheck stub shows versus what you actually owe
Your employer withholds federal income tax from each paycheck based on the information you provided on your W-4 form. This withholding is an estimate. It is not your final tax bill. At the end of the year, you file a tax return that calculates what you actually owe. If too much was withheld, you get a refund. If too little was withheld, you owe the difference.
The W-4 asks about your filing status, dependents, and other income. If your situation changed — you got married, had a child, took a second job, or your spouse started working — you should update your W-4 so the withholding stays accurate. You can adjust it anytime through your employer's payroll system.
Self-employment tax on top of income tax
If you are self-employed, you pay both the employee and employer portions of Social Security and Medicare tax. This is called self-employment tax, and it is roughly 15.3% of your net self-employment income (after business expenses). You also owe regular federal income tax on that same income.
Self-employed people file Schedule C with their tax return to report business income and expenses. You then pay self-employment tax on the profit using Schedule SE. You can deduct half of your self-employment tax from your income before calculating income tax, which reduces the total burden slightly. Many self-employed people pay estimated taxes quarterly rather than waiting until April, because the bill can be large.
Credits and deductions that lower your tax bill
Your tax bill can be reduced by tax credits and deductions. A deduction reduces your taxable income — it lowers the amount you calculate tax on. A credit reduces your tax bill directly, dollar for dollar. Credits are generally more valuable.
Common credits include the Earned Income Tax Credit (EITC) for lower-income workers, the Child Tax Credit for parents, and the American Opportunity Tax Credit for students. Deductions include mortgage interest, charitable donations, and state and local taxes (up to $10,000). You either take the standard deduction or itemize deductions — you cannot do both. Most people benefit from the standard deduction because it is simpler and larger than their itemized deductions would be.
Tax brackets change every year
The IRS adjusts tax brackets each year for inflation. The dollar amounts that trigger each rate go up, but the rates themselves (10%, 12%, 22%, and so on) stay the same. This means your income can increase without pushing you into a higher tax bracket if the bracket thresholds rose enough.
The 2024 brackets shown here will not apply in 2025. When you file your 2024 taxes in early 2025, use the 2024 brackets. When you file your 2025 taxes in early 2026, the IRS will have published new 2025 brackets. Tax software and the IRS website will have the current year's brackets when you need them.
Frequently Asked Questions
Does moving to a higher tax bracket mean I take home less money?
No. Only the income in the higher bracket is taxed at the higher rate. If you earn $1 more and move into a new bracket, that extra dollar is taxed at the new rate, but all your previous income is still taxed at the old rates. You always come out ahead by earning more.
What is the difference between my withholding and my actual tax bill?
Withholding is what your employer takes from each paycheck based on your W-4. Your actual tax bill is calculated when you file your return and depends on your total income, deductions, credits, and filing status for the whole year. They rarely match exactly, which is why most people get a refund or owe a small amount in April.
Do I pay federal income tax if I earn below the standard deduction?
No. If your total income is less than the standard deduction for your filing status, you owe no federal income tax. For 2024, that threshold is $14,600 for single filers and $29,200 for married couples filing jointly. You may still want to file a return to claim refundable credits like the EITC.
How do tax credits differ from deductions?
A deduction reduces the income you pay tax on. A credit reduces your tax bill directly. A $1,000 deduction saves you roughly $120 to $370 depending on your bracket. A $1,000 credit saves you exactly $1,000. Credits are more valuable, but you must meet specific requirements to claim them.
When do tax brackets for the next year become available?
The IRS publishes the next year's tax brackets in late October or early November. Tax software updates automatically, and the IRS website posts them in the "Tax Brackets and Rates" section. You do not need to look them up yourself — your tax software or a tax professional will use the correct brackets when you file.