New 2024 Tax Brackets Vs 2024 Tax Brackets Symbol. In a nutshell, the top income limit for each bracket is going up. These brackets apply to federal income tax returns you would normally file in early 2025.
The inflation adjustments mean that taxpayers will need to earn more to hit a higher tax rate than they did in 2023. The irs is changing over 60 tax provisions for the 2024 tax year, including a 5% increase to the standard deduction, due to inflation.