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2024 Tax Tables And Standard Deductions

2024 Tax Tables And Standard Deductions. The seven federal income tax brackets for 2024 are 10%, 12%, 22%, 24%, 32%, 35% and 37%. Expiration of thetax cuts and jobs act next year will usher in higher tax rates, smaller child tax credit, among other things.


2024 Tax Tables And Standard Deductions

New 2024 income tax brackets and a higher standard deduction may mean tax cuts for many americans. A deduction reduces the amount of a taxpayer’s income that’s subject to tax, generally reducing the amount of tax the individual may have to pay.

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