![]() Suppose your filing status is single, and you have $100,000 taxable income in 2023. More: New 2024 Income Tax Brackets Are Set What is a marginal tax rate? How income tax brackets work So, before we show you the 2023 tax brackets and the 2024 tax brackets recently released by the IRS, let’s consider some examples of how income tax brackets and marginal tax rates work. ![]() (The rest of your income gets taxed at a lower rate or rates.)
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