Income Tax Brackets 2024-25. The financial year for tax purposes for individuals starts on 1st july and ends on 30 june of. Check your 2024 irs federal income tax bracket to see if you fall into a lower bracket due to inflation, which could lower your tax bill next year.

Your bracket depends on your taxable income and filing status. On 25 january 2024, the government announced changes to individual income tax rates and thresholds from 1 july 2024.