The IRS has released the new provisions for tax year 2024.
The Internal Revenue Service on Thursday announced the inflation adjustments for the standard deduction, federal income tax brackets, and a host of other provisions for tax year 2024.
The IRS also announced the new dollar amounts that will apply to the tax federal income tax brackets. For tax year 2024, the top marginal tax rate remains 37% for individual single taxpayers with incomes greater than $609,350 . The other rates and corresponding dollar amounts are as follows:
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