I see for 2023 the tax bracket for AGI for filling joint 12 % to 22% is at $89,450 is there numbers for 2024 yet to see when it jumps from 12% to 22%? If not is 2023 bracket close for an estimate for 2024?
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Hi afpgdp,
2023 Tax Brackets (For Taxes Due in 2024) is:
Tax Rate | Single Filers Tax Brackets | Marries Filing Jointly or Qualifying Widow Tax Brackets |
---|---|---|
12% | $11,000 to $44,725 | $22,000 to $89,450 |
22% | $44,725 to $95,375 | $89,450 to $190,750 |
24% | $95,375 to $182,100 | $190,750 to $364,200 |
32% | $182,100 to $231,250 | $364,200 to $462,500 |
The income thresholds for the 2023 tax brackets were adjusted significantly — up about 7% from 2022 — due to the record-high inflation.
With tax brackets for 2024 have not been released at this time, Tax brackets—the income ranges to which different rates apply—vary depending on taxpayers' filing status and are adjusted, or indexed, each year to include the effects of inflation.
Here are links that may help:
IRS provides tax inflation adjustments for tax year 2023
Thank you for asking.
Hello @afpgdp ,
The 2024 Tax Brackets are for Tax Year 2024 and they have not been released yet. You can use our Tax Calculators to plan for tax year 2023.
I hope this helps.
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