2024 Income Tax Brackets And Deductions U/S. You will pay 10 percent on taxable income up to $11,600, 12 percent on the amount over $11,600 to $47,150, and 22 percent above that (up to $100,525). 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. The federal income tax has seven tax rates in 2024: