This article has been updated for the 2023 and 2024 tax years. The IRS has released its 2024 tax brackets (the bracketed tax rate table for IRS federal income tax rates). Each year, the IRS tax rate brackets are adjusted for inflation (similar to maximum 401K and maximum IRA contribution levels and standard deduction amounts). With recent inflation levels, there are some noteworthy inflation adjustment increases over the 2023 tax brackets and standard deductions for taxpayers. Since we’re still focused on 2023 for tax filing purposes and will be until the 2023 tax year deadline, the 2023 tax brackets are
The post Federal Tax Brackets (IRS Tax Rate Tables) for 2023 & 2024 appeared first on 20somethingfinance.com.