The IRS (Internal Revenue Service) has revealed its annual tax brackets as adjusted for inflation for 2024 taxes filed in 2025, and 2023 taxes filed in 2024. These tax brackets cover any taxable income that will need to be filed this year or next year.
The adjustment rate rose by 5.4% from 2023. The top rate is 37%, which means that single filers earning upwards of $
609,350 in annual income will pay 37% of that income in taxes. The bottom rate is 10%, meaning that single filers earning $11,600 or less in annual income will only be taxed 10% of their income, and so on and so forth.
Taxes due 2025:
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Taxes due 2024 from 2023
Filing for 2023 income taxes are due on April 15th, 2024. If you have a tax extension, they are due in October.
