Tax Bracket 2024 Single. The standard deduction for a single person will go up from $13,850 in 2023 to $14,600 in 2024, an increase of 5.4%. There are seven federal tax brackets for tax year 2024.

In 2024, the top tax rate of 37% applies to those earning over $609,350 for individual single filers, up from $578,125 last year. The top marginal tax rate in tax year 2024, will remain at 37% for single individuals with.