Tax Brackets – 2023 and 2024 Compared

The Internal Revenue Service (IRS) recently released the tax brackets for calendar year 2024 earnings (for tax returns to be filed in April 2025).

The tax brackets are unchanged and remain at 10%, 12%, 22%, 24%, 32%, 35% and 37%.

The income limits for each tax bracket have increased for inflation. This means that the income threshold for each bracket has increased slightly from 2023. The following table shows how the tax brackets have changed.

If you have any questions about the new tax brackets and whether this changes the amount you want to contribute to the JRB or withhold for tax purposes, please email us or call 888-JRB-FREE (572-3733).

 

Tax Rate SingleMarried Filing JointlyMarried Filing SeparatelyHead of Household

10%

2024

$11,600 or less$23,200 or less$11,600 or less$16,550 or less

2023

$11,000 or less$22,000 or less$11,000 or less$15,700 or less

12%

2024

$11,601 to $47,150$23,201 to $94,300$11,601 to $47,150$16,551 to $63,100

2023

$11,001 to $44,725$22,001 to $89,450$11,001 to $44,725$15,701 to $59,850

22%

2024

$47,151 to $100,525$94,301 to $201,050$47,151 to $100,525$63,101 to $100,500

2023

$44,726 to $95,375$89,451 to $190,750$44,726 to $95,375$59,851 to $95,350

24%

2024

$100,526 to $191,950$201,051 to $383,900$100,526 to $191,950$100,501 to $191,950

2023

$95,376 to $182,100$190,751 to $364,200$95,376 to $182,100$95,351 to $182,100

32%

2024

$191,951 to $243,725$383,901 to $487,450$191,951 to $243,725$191,951 to $243,700

2023

$182,101 to $231,250$364,201 to $462,500$182,101 to $231,250$182,101 to $231,250

35%

2024

$243,726 to $609,350$487,451 to $731,200$243,726 to $365,600$234,701 to $609,350

2023

$231,251 to $578,125$462,501 to $693,750$231,251 to $346,875$231,251 to $578,100

37%

2024

Over $609,350Over $731,200Over $365,600Over $609,350

2023

Over $578,125Over $693,750Over $346,875Over $578,100

February 2024