2024 Income Tax Brackets And Deductions. Income tax slabs 2024 highlights: As in 2023, the marginal tax rate (s) of 10%, 12%, 22%, 24%, 32%, 35%, and 37% will be in effect in 2024.
Your standard deduction — the amount you can use as a deduction on your 1040 tax return without itemizing — will also be higher. The federal income tax has seven tax rates in 2024: