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Tax Bracket 2024 Married Filing Jointly
Tax Bracket 2024 Married Filing Jointly . The standard deduction for married couples filing jointly for tax year 2024 rises to $29,200, an increase of $1,500 from tax year 2023. As your income goes up, the tax rate on the next layer of income is higher.
You pay tax as a percentage of your income in layers called tax brackets. Based on your annual taxable income and filing status, your tax bracket determines your federal tax rate.
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2024 Tax Brackets Married Filing Jointly Irs Lind Shelia , In 2023 and 2024, there are seven federal income tax rates and brackets: