2024 Income Tax Brackets Nerdwallet

2024 Income Tax Brackets Nerdwallet. The 2023 tax year—meaning the return you’ll file in 2024—will have the same seven federal income tax brackets as the last few seasons: The tax brackets are based on taxable income, which is agi minus various deductions.

Each bracket applies to a different taxable income. Thankfully, the thresholds have all increased by 5.4% to account for inflation.