Fed Tax Rates 2024 Income. The federal income tax is a marginal income tax collected by the internal revenue service (irs) on most types of personal and business income. It is mainly intended for residents of the u.s.

So $30,275 x 22% =. For example, assume a hypothetical taxpayer who is married with $150,000 of joint income in 2024 and claiming the standard deduction of $29,200.