Income Tax Brackets 2024-25

Income Tax Brackets 2024-25. You pay tax as a percentage of your income in layers called tax brackets. In 2024, there are seven federal income tax rates:

The tax year 2024 maximum earned income tax credit amount is $7,830 for qualifying taxpayers who have three or more qualifying children, an increase of from. In 2025, the excess taxable income above which the 28% tax rate applies will likely be $119,550 for married taxpayers filing separate returns and $239,100 for all.