2024 Tax Brackets Single Filer. For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; For the tax year 2024, the top tax rate is 37% for individual single taxpayers with incomes greater than $609,350 ($731,200 for married couples filing jointly).

For tax year 2024, which applies to taxes filed in 2025, there are seven federal tax brackets with income tax rates of 10%, 12%, 22%, 24%, 32, 35%, and 37%. As an example, if you are single (unmarried) filer and your taxable income is $50,000, your tax rate on your first $11,000 of taxable income is 10%, taxable income.