2023 federal income tax returns are due by April 15, 2024, or October 2024, with a tax extension. There are seven tax rates: 10%, 12%, 22%, 24%, 32%, 35% and 37%.
Tax brackets 2023 (taxes due 2024)
The income thresholds for the 2023 tax brackets were adjusted significantly — up about 7% — from 2022 due to record-high inflation. This means some people might be in a lower tax bracket this year than in 2022.
|
Tax Rate |
Single |
Married filing jointly |
Married filing separately |
Head of household |
|---|---|---|---|---|
|
10% |
$0 to $11,000. |
$0 to $22,000. |
$0 to $11,000. |
$0 to $15,700. |
|
12% |
$11,001 to $44,725. |
$22,001 to $89,450. |
$11,001 to $44,725. |
$15,701 to $59,850. |
|
22% |
$44,726 to $95,375. |
$89,451 to $190,750. |
$44,726 to $95,375. |
$59,851 to $95,350. |
|
24% |
$95,376 to $182,100. |
$190,751 to $364,200. |
$95,376 to $182,100. |
$95,351 to $182,100. |
|
32% |
$182,101 to $231,250. |
$364,201 to $462,500. |
$182,101 to $231,250. |
$182,101 to $231,250. |
|
35% |
$231,251 to $578,125. |
$462,501 to $693,750. |
$231,251 to $346,875. |
$231,251 to $578,100. |
|
37% |
$578,126 or more. |
$693,751 or more. |
$346,876 or more. |
$578,101 or more. |
Table 2. 2024 Standard Deduction
Source: Internal Revenue Service, “Revenue Procedure 2023-34.”
