2024 Tax Rate Schedule Pdf. The amt exemption amount for tax year 2024 increased to $85,700 and starts to phase out at $609,350, up $4,400 and $31,200 compared with tax year 2023, respectively. For 2024, there are seven tax brackets, and the amount of tax you pay depends on.
Tax brackets are ranges of income that get taxed at different rates. If you had an income of $11,600 or less in 2024 (or $23,200 for married couples filing jointly), you fall under the lowest rate of 10%.