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In 2024, federal income tax rates remain at 10%, 12%, 22%, 24%, 32%, 35%, and 37%. While these rates stay the same for 2025, the income thresholds for each bracket will adjust for inflation.
Here are the updated tax brackets for 2024, ... For married couples filing jointly, it will rise to $29,200 for 2024, up from $27,700 in 2023. Those filing as heads of household will see their ...
Tax Rate. Single. Married Filing Jointly or Qualifying Surviving Spouse. Married Filing Separately. Head of Household. 10%. $0 to $11,000. $0 to $22,000. $0 to $11,000
The origin of the current rate schedules is the Internal Revenue Code of 1986 (IRC), [2] [3] which is separately published as Title 26 of the United States Code. [4] With that law, the U.S. Congress created four types of rate tables, all of which are based on a taxpayer's filing status (e.g., "married individuals filing joint returns," "heads of households").
2024 tax brackets (for taxes due April 2025 or October 2025 with an extension) ... Married filing jointly or qualifying widow. Married filing separately. 10%. $0 to $11,600.
Married filing jointly (65 or older, one spouse): $29,200. Married filing jointly (65 or older, both spouses): $30,700. Married filing separately (any age): $5. Qualifying surviving spouse (under ...
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