- Every year, the IRS adjusts more than 60 tax provisions, including federal tax brackets, in order to prevent people from being pushed into higher income tax brackets solely due to inflation.
- The income needed for the highest bracket in 2024 at 37% is $609,351 for a single filer.
- The income needed for the highest bracket in 2025 at 37% is $626,351 for a single filer.
Tax season is well underway after the Internal Revenue Service started accepting tax returns in January.
However, it’s off to a slow start: the IRS received fewer returns through the first two weeks of the 2025 season than it did last year, even as tax experts urge people to file early amidst IRS layoffs.
If you haven’t filed yet, you might want to know that there are new federal income tax brackets for tax year 2024.
Every year, the IRS adjusts more than 60 tax provisions, including federal tax brackets, for inflation. This is in order to prevent “bracket creep,” or when people are pushed into higher income tax brackets because of inflation rather than any increase of real income.
The IRS has announced the new federal income tax brackets for both tax year 2024 and 2025. If you haven’t filed yet for 2024 or are already thinking about what your taxes might look like next year, take a look.
IRS tax rates for tax year 2024
| Tax Rate | Single Filers | Married Filing Jointly |
| 10% | $0 to $11,600 | $0 to $23,200 |
| 12% | $11,601 to $47,150 | $23,201 to $94,300 |
| 22% | $47,151 to $100,525 | $94,301 to $201,050 |
| 24% | $100,526 to $191,950 | $201,051 to $383,900 |
| 32% | $191,950 to $243,725 | $383,901 to $487,450 |
| 35% | $243,726 to $609,350 | $487,451 to $731,200 |
| 37% | $609,351 and beyond | $731,201 and beyond |
Standard deduction tax year 2024
The standard deduction for tax year 2024 has also changed.
- Single filers and married individuals filing separately: $14,600
- Married filing jointly: $29,200
- Heads of household: $21,900
IRS tax rates for tax year 2025
| Tax Rate | Single Filers | Married Filing Jointly |
| 10% | $0 to $11,925 | $0 to $23,850 |
| 12% | $11,926 to $48,475 | $23,851 to $96,950 |
| 22% | $48,476 to $103,350 | $96,951 to $206,700 |
| 24% | $103,351 to $197,300 | $206,701 to $394,600 |
| 32% | $197,301 to $250,525 | $394,601 to $501,050 |
| 35% | $250,526 to $626,350 | $501,051 to $751,600 |
| 37% | $626,351 and above | $751,601 and above |
Standard deduction tax year 2025
The standard deduction in tax year 2025 will also increase.
- Single filers and married individuals filing separately: $15,000
- Married filing jointly: $30,000
- Heads of household: $22,500