2024 Tax Brackets Vs 2024 Tax Brackets. For 2024, inflation adjustments increased the size of tax brackets by about 5.4%. You don’t pay the same tax rate on every dollar of income.

The new laws announced in july will be effective from october 1, 2024. The first $11,000 of your taxable dollars will be taxed at 10% in the 2023 tax year if you’re a single filer, then your income from $11,001 through $44,725 would be taxed at the rate of 12%.