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At Tax City Nationwide, our team of experienced tax professionals are dedicated to providing high-quality tax services to individuals and businesses. We stay up-to-date with the latest tax laws and regulations to ensure that our clients receive accurate and reliable tax advice.

Our team of experienced professionals has a deep understanding of the tax code and regulations. We stay up-to-date with the latest changes to ensure our clients receive the best possible advice and service.

There are seven federal income tax rates and brackets in 2023 and 2024: 10%, 12%, 22%, 24%, 32%, 35% and 37%. Your taxable income and filing status determine which rates apply to you. 

The U.S. federal tax rates will remain the same until 2025 as a result of the Tax Cuts and Jobs Act of 2017, but the income thresholds that inform the tax brackets are generally adjusted each year to reflect the rate of inflation[1]. 

These adjustments can help prevent taxpayers from ending up in a higher tax bracket as their cost of living rises, often called “bracket creep.” The tax bracket adjustments can also lower taxes for those whose compensation has not kept up with inflation. 

Federal income tax returns for 2023 are due by April 15, 2024, or October 15, 2024, with a tax extension. 

Tax Rate

Single

Married filing jointly

Married filing separately

Head of household

10%

$0 to $11,000.

$0 to $22,000.

$0 to $11,000.

$0 to $15,700.

12%

$11,001 to $44,725.

$22,001 to $89,450.

$11,001 to $44,725.

$15,701 to $59,850.

22%

$44,726 to $95,375.

$89,451 to $190,750.

$44,726 to $95,375.

$59,851 to $95,350.

24%

$95,376 to $182,100.

$190,751 to $364,200.

$95,376 to $182,100.

$95,351 to $182,100.

32%

$182,101 to $231,250.

$364,201 to $462,500.

$182,101 to $231,250.

$182,101 to $231,250.

35%

$231,251 to $578,125.

$462,501 to $693,750.

$231,251 to $346,875.

$231,251 to $578,100.

37%

$578,126 or more.

$693,751 or more.

$346,876 or more.

$578,101 or more.

Source: IRS[2].

The income thresholds for the 2023 tax brackets were adjusted significantly — up about 7% — from 2022 due to record-high inflation. This means that some people might be in a lower tax bracket than they were previously. 

At Tax City Nationwide, we've been providing top-notch tax services to individuals and businesses for over 10 years. We started as a small family-owned business and have grown to become one of the most trusted tax service providers in the area.

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