2024 Tax Brackets Mfs. 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 and $29,200 (up. The tax brackets are based on taxable income, which is agi minus various deductions.
10%, 12%, 22%, 24%, 32%, 35% and 37% (there is also a zero rate). Income tax tables and other tax information is sourced from the federal internal revenue service.