IRS Tax Rates for 2024

The IRS recently announced new tax rates for the 2024 calendar year. The tax tables can be found below. The standard deduction will be $29,200 for Married Filing Join Taxpayers, $21,900 for Taxpayers filing head of household, and $14,600 for single taxpayers and Married Filing Separate Taxpayers. Learn more about IRS tax rates for 2024.

Married Filing Joint Rates for 2024

Taxable Income Tax Rate

Not over $23,200                                  10% of the taxable income 

Over $23,200 but not over $94,300         $2,320 plus 12% of the excess over $23,200 

Over $94,300 but not over $201,050        $10,852 plus 22% of the excess over $94,300 

Over $201,050 but not over $383,900    $34,337 plus 24% of the excess over $201,050 

Over $383,900 but not over $487,450    $78,221 plus 32% of the excess over $383,900 

Over $487,450 but not over $731,200    $111,357 plus 35% of the excess over $487,450 

Over $731,200                                      $196,669.50 plus 37% of the excess over $731,200

Head of Household Taxable Rates for 2024

Taxable Income                                    Tax Rate

Not over $16,550 10% of the taxable income 

Over $16,550 but not over $63,100        $1,655 plus 12% of the excess over $16,550 

Over $63,100 but not over $100,500      $7,241 plus 22% of the excess over $63,100 

Over $100,500 but not over $191,950    $15,469 plus 24% of the excess over $100,500 

Over $191,950 but not over $243,700    $37,417 plus 32% of the excess over $191,150 

Over $243,700 but not over $609,350     $53,977 plus 35% of the excess over $243,700

Over $609,350                                     $181,954.50 plus 37% of the excess over $609,350

Single Taxable Rates for 2024

Taxable Income                                    Tax Rate

Not over $11,600                                  10% of the taxable income 

Over $11,600 but not over $47,150        $1,160 plus 12% of the excess over $11,600 

Over $47,150 but not over $100,525      $5,426 plus 22% of the excess over $47,150 

Over $100,525 but not over $191,950    $17,168.50 plus 24% of the excess over $100,525 

Over $191,950 but not over $243,725    $39,110.50 plus 32% of the excess over $191,150 

Over $243,725 but not over $609,350    $55,678.50 plus 35% of the excess over $243,725 

Over $609,350 $183,647.25 plus 37% of the excess over $609,350

Married Filing Separate Taxable Rates for 2024

Taxable Income                                    Tax Rate

Not over $11,600                                  10% of the taxable income

Over $11,600 but not over $47,150$1,160 plus 12% of the excess over $11,600

Over $47,150 but not over $100,525      $5,426 plus 22% of the excess over $47,150

Over $100,525 but not over $191,950    $17,168.50 plus 24% of the excess over $100,525

Over $191,950 but not over $243,725    $39,110.50 plus 32% of the excess over $191,150

Over $243,725 but not over $365,600    $55,678.50 plus 35% of the excess over $243,725

Over $365,600                                     $98,334.75 plus 37% of the excess over $365,600

It is still not too late to get in some end-of-year tax planning for 2023. It may still be possible for you to get some year-end tax deductions and take advantage of other potential tax savings. Please contact our experienced tax attorney at RJS LAW or by phone at 619-595-1655 for a free consultation.

Written by Joseph Cole, Esq., LL.M.