2024 Tax Rates Irs. As your income goes up, the tax rate on the next layer of income is higher. Check your 2024 irs federal income tax bracket to see if you fall into a lower bracket due to inflation, which could lower your tax bill next year.

Based on your annual taxable income and filing status, your tax bracket determines your federal tax rate. Washington — the internal revenue service today announced the annual inflation adjustments for more than 60 tax provisions for tax year 2024, including the tax rate schedules and other tax changes.