Income Tax Brackets 2024 Mfj. Key items include the top tax rate for individual taxpayers reverting to 39.6% (applying at approximately $553,600), ending the 20% §199a qualified business income deduction,. Below, cnbc select breaks down the updated tax brackets for 2024 and what you need to.
You pay tax as a percentage of your income in layers called tax brackets. For 2024, the seven federal income tax rates are 10%, 12%, 22%, 24%, 32%, 35% and 37%.