Tax Brackets 2024 And Standard Deduction. You can use our federal tax brackets calculator to determine how much tax you will pay for the current tax year, or to determine how much tax you have paid in previous tax years. You pay tax as a percentage of your income in layers called tax brackets.
The agency has boosted the income thresholds for each bracket,. The tax brackets, standard deduction, and the capital gains tax cutoff point for single and married filing jointly filing statuses will go up in 2025.
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