The 2024 federal income tax brackets depend on your filing status and income
Federal income tax in 2024 uses a progressive tax system, which means the rate you pay increases as your income increases. You do not pay one flat rate on all your income. Instead, your income is divided into brackets, and you pay a different percentage on each bracket. The brackets themselves shifted slightly in 2024 because they are adjusted each year for inflation.
The rates themselves — 10%, 12%, 22%, 24%, 32%, 35%, and 37% — have stayed the same since 2018. What changed in 2024 is where each bracket begins and ends. For example, the 12% bracket for a single filer in 2024 starts at $11,601 and ends at $47,150. In 2023, that same bracket ran from $11,001 to $44,725. The shifts are small but matter when you are calculating what you owe.
Key Takeaways
- The seven federal tax rates (10%, 12%, 22%, 24%, 32%, 35%, 37%) apply to different portions of your income based on your filing status and total income.
- The income ranges for each bracket change every year; the 2024 brackets are higher than 2023 because of inflation adjustment.
- You pay the lowest rate on your first dollars earned and the highest rate only on income above the top bracket threshold for your filing status.
- Your filing status — single, married filing jointly, married filing separately, or head of household — determines which bracket ranges apply to you.
- Standard deductions and tax credits reduce the income you actually pay tax on, so your effective tax rate is lower than your marginal rate.
The 2024 tax brackets by filing status
Each filing status has its own set of bracket ranges. A married couple filing jointly reaches higher income thresholds before entering the top brackets, which is why married filing jointly brackets are wider than single brackets.
| Tax Rate | Single | Married Filing Jointly | Married Filing Separately | Head of Household |
|---|---|---|---|---|
| 10% | $0–$11,600 | $0–$23,200 | $0–$11,600 | $0–$16,550 |
| 12% | $11,601–$47,150 | $23,201–$94,300 | $11,601–$47,150 | $16,551–$63,100 |
| 22% | $47,151–$100,525 | $94,301–$201,050 | $47,151–$100,525 | $63,101–$100,500 |
| 24% | $100,526–$191,950 | $201,051–$383,900 | $100,526–$191,950 | $100,501–$191,950 |
| 32% | $191,951–$243,725 | $383,901–$487,450 | $191,951–$243,725 | $191,951–$243,700 |
| 35% | $243,726–$609,350 | $487,451–$731,200 | $243,726–$365,600 | $243,701–$609,350 |
| 37% | $609,351+ | $731,201+ | $365,601+ | $609,351+ |
These brackets apply to your taxable income, not your gross income. Your taxable income is what remains after you subtract the standard deduction or itemized deductions. For 2024, the standard deduction for a single filer is $14,600 and for married filing jointly is $29,200. That means a single person earning $50,000 only pays tax on $35,400 ($50,000 minus $14,600).
How marginal rate differs from effective rate
Your marginal tax rate is the rate you pay on your last dollar of income — the highest bracket you reach. Your effective tax rate is the average rate you pay on all your income. These are almost never the same, and understanding the difference matters when you are thinking about whether a raise or side income will cost you in taxes.
A single filer earning $60,000 in 2024 has a marginal rate of 12% (because $60,000 falls in the 12% bracket). But their effective rate is lower. After the $14,600 standard deduction, their taxable income is $45,400. They pay 10% on the first $11,600 ($1,160) and 12% on the remaining $33,800 ($4,056), for a total of $5,216 in federal income tax. That is an effective rate of about 8.7% of their gross income — much lower than the 12% marginal rate.
This matters because earning an extra $1,000 does not mean you suddenly owe 12% of that entire $1,000. You owe 12% only on the portion that falls into the 12% bracket. The rest of your income is still taxed at the lower rates that apply to lower brackets.
Standard deduction and tax credits reduce what you owe
The standard deduction is a flat amount you subtract from your gross income before calculating tax. For 2024, it is $14,600 for single filers, $29,200 for married filing jointly, $14,600 for married filing separately, and $21,900 for head of household. If your income is below the standard deduction for your filing status, you owe no federal income tax.
Tax credits work differently than deductions. A deduction reduces your taxable income; a credit reduces the tax you owe dollar-for-dollar. The Earned Income Tax Credit (EITC), Child Tax Credit, and American Opportunity Tax Credit are common examples. A $1,000 tax credit means you owe $1,000 less in tax, regardless of your bracket. Some credits are refundable, meaning if the credit is larger than the tax you owe, you receive the difference as a refund.
When tax brackets change and how to find current rates
The IRS adjusts tax brackets every January to account for inflation. The adjustment is based on the Consumer Price Index from the previous year. This is why the 2024 brackets are wider than the 2023 brackets — inflation in 2023 pushed the thresholds up. The 2025 brackets will be announced in late 2024 and will reflect 2024 inflation.
You can find the official 2024 brackets on the IRS website (irs.gov) under the "Tax Brackets and Rates" section. The IRS also publishes a document called Publication 505, which includes the brackets and standard deduction amounts. Your tax software or tax preparer will use the correct 2024 brackets automatically when you file.
Self-employment and investment income use the same brackets
The tax brackets apply to all types of income: wages from a job, self-employment income, investment income, and rental income. However, self-employment income is subject to an additional 15.3% self-employment tax (Social Security and Medicare), which is separate from income tax. Investment income may also be taxed at different rates depending on whether it is ordinary income or long-term capital gains.
Long-term capital gains (assets held over one year) are taxed at 0%, 15%, or 20% depending on your income and filing status — rates that are separate from the ordinary income brackets. may have access to dividends also use the capital gains rates. Short-term capital gains (assets held one year or less) are taxed as ordinary income using the brackets shown above.
Frequently Asked Questions
Do I owe taxes if I earn less than the standard deduction?
No. If your income is below the standard deduction for your filing status, you owe no federal income tax. For 2024, a single person earning $14,600 or less owes nothing. A married couple filing jointly earning $29,200 or less owes nothing. You may still want to file to claim refundable credits like the EITC.
What is the difference between a tax bracket and a tax rate?
A tax bracket is a range of income. A tax rate is the percentage you pay on income within that bracket. The 12% bracket for single filers runs from $11,601 to $47,150. If your income falls in that range, you pay 12% on the portion of your income within that range — not on all your income.
If I earn more money, will I owe more in taxes?
Yes, but not at the rate you might think. Extra income is taxed at your marginal rate (the bracket it falls into), not at your effective rate. If you earn an extra $5,000 and it falls in the 12% bracket, you owe about $600 in federal income tax on that $5,000, not 12% of your entire income.
Are the 2024 brackets the same as 2023?
No. The bracket ranges are wider in 2024 because they were adjusted for inflation. The tax rates themselves (10%, 12%, 22%, etc.) are the same, but the income thresholds where each rate begins and ends changed. The IRS publishes new brackets every January.