Income Tax Rules 2024. If taxable income exceeds those amounts, filers may be subject to 15% and 20% tax rates. Single taxpayers 2024 official tax.

Adjustments (in tax year 2024, the federal exemption is $13.61 million), though this provision expires december 31, 2025. We’ve run through seven key changes that have come into effect for the 2024/25 tax year.