2024 Tax Brackets
Explore the IRS inflation-adjusted 2024 tax brackets, for which taxpayers will file tax returns in early 2025.
4 min readProviding journalists, taxpayers, and policymakers with the latest data on taxes and spending is a cornerstone of the Tax Foundation’s educational mission.
As a nonpartisan, educational organization, the Tax Foundation has earned a reputation for independence and credibility. Our federal tax policy team regularly provides accessible, data-driven insights from sources such as the Internal Revenue Service (IRS), the Organisation for Economic Co-Operation and Development (OECD), Congressional Budget Office (CBO), the Joint Committee on Taxation (JCT), and others. For more insights on the latest federal tax policies, explore the Tax Foundation’s general equilibrium Taxes & Growth (TAG) Model
Explore the IRS inflation-adjusted 2024 tax brackets, for which taxpayers will file tax returns in early 2025.
4 min readThe latest IRS data shows that the U.S. federal individual income tax continued to be progressive, borne primarily by the highest income earners.
43 min readHow do current federal individual income tax rates and brackets compare historically?
57 min readReviewing reported income helps to understand the composition of the federal government’s revenue base and how Americans earn their taxable income. The individual income tax, the federal government’s largest source of revenue, is largely a tax on labor.
9 min readAlthough the U.S. has a progressive tax system and a relatively low tax burden compared to the OECD average, average-wage workers still pay more than 30 percent of their wages in taxes.
4 min readDifferent taxes have different economic effects, so policymakers should always consider how tax revenue is raised and not just how much is raised.
4 min readTaxes and fees on the typical American wireless consumer increased again this year, to a record 24.96 percent.
32 min readAs Congress considers several tax proposals designed to raise taxes on high-income earners, it’s worth considering the distribution of the existing tax code.
2 min readUnder the House Democrats’ reconciliation plan, the top tax rate on pass-through business income would exceed 50 percent in most states. Pass-through businesses, such as sole proprietorships, S corporations, and partnerships, make up a majority of businesses and majority of private sector employment in the United States.
3 min readUnder the House Democrats’ tax plan, companies in 21 states and D.C. would face a higher corporate tax rate than in any country in the OECD.
1 min readThe Biden corporate tax plan would disproportionately harm these congressional districts and make the U.S. less internationally competitive. These tax hikes, along with individual tax increases, would also raise taxes on net for 96 percent of congressional districts by 2031 after these temporary credits expire in 2025.
2 min readIt is important to understand how the SALT deduction’s benefits have changed since the SALT cap was put into place in 2018 before repealing the cap or making the deduction more generous. Doing so would disproportionately benefit higher earners, making the tax code more regressive.
6 min read