2024 Tax Brackets
Explore the IRS inflation-adjusted 2024 tax brackets, for which taxpayers will file tax returns in early 2025.
4 min read
Providing 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
Featured Data
Summary of the Latest Federal Income Tax Data, 2023 Update
The 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 read
Historical U.S. Federal Individual Income Tax Rates & Brackets, 1862-2021
How do current federal individual income tax rates and brackets compare historically?
57 min read
Sources of Personal Income, Tax Year 2020
Reviewing 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 read
The U.S. Tax Burden on Labor, 2023
Although 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 read
Sources of U.S. Tax Revenue by Tax Type, 2023
Different taxes have different economic effects, so policymakers should always consider how tax revenue is raised and not just how much is raised.
4 min readAll Federal Tax Data
330 Results
U.S. Corporate Tax Expenditures and Effective Tax Rates in Line with OECD Peers
Last week, an analysis by Reuters suggested that U.S. firms pay less income tax than foreign competitors, in part because “the U.S. tax code is unusually generous with tax breaks and deductions,” also known as corporate tax expenditures. However, the Reuters analysis is at odds with other data and studies indicating that U.S. corporate tax expenditures and effective tax rates are about on par with those in peer countries in the OECD.
3 min read
Joint Committee on Taxation Data Shows Federal Tax System Is Progressive
New Joint Committee on Taxation (JCT) data indicates that the federal tax system is progressive, consistent with similar analysis by the Congressional Budget Office (CBO), and the OECD.
2 min read
U.S. Top Combined Integrated Tax Rate on Corporate Income Would Become Highest in the OECD
Under President Biden’s tax plan, the United States would tax corporate income at the highest top rate in the industrialized world, averaging 65.1 percent.
3 min read
Corporate Investment Outweighs Federal Revenue Losses Since TCJA
The Biden administration has argued for raising the corporate tax rate to offset the drop in federal corporate revenues following the Tax Cuts and Jobs Act (TCJA) of 2017, claiming it did not lead to more corporate investment as advertised. Although corporate revenues did drop following this tax reform, the ensuing increase in corporate investment far exceeds these revenue losses.
1 min read