Irs New Tax Brackets 2024. Washington โ the internal revenue service today announced the annual inflation adjustments for more than 60 tax provisions for tax year 2024, including the tax rate schedules and other tax changes. The irs released the new tax brackets for the 2024 tax year.
The irs is changing over 60 tax provisions for the 2024 tax year, including a 5% increase to the standard deduction, due to inflation. Check your 2024 irs federal income tax bracket to see if you fall into a lower bracket due to inflation, which could lower your tax bill next year.