2024 Tax Rates And Deductions For Single

2024 Tax Rates And Deductions For Single. The 2024 standard deduction for tax returns filed in 2025 is $14,600 for single filers, $29,200 for joint filers or $21,900 for heads of household. In 2024, the top tax rate of 37% applies to those earning over $609,350 for individual single filers, up from $578,125 last year.

The irs on thursday announced higher federal income tax brackets and standard deductions for 2024. You pay tax as a percentage of your income in layers called tax brackets.