Estimate your federal income tax refund or amount owed for the 2024 tax year. See your tax bracket breakdown and effective rate.
The US federal income tax system is progressive — you pay higher rates only on the income above each bracket threshold, not on your entire income. Your "marginal tax rate" is the rate on your last dollar of income. Your "effective rate" is your total tax divided by total income — always lower than your marginal rate.
| Taxable Income | Rate | Tax on This Band |
|---|---|---|
| Up to $11,600 | 10% | Up to $1,160 |
| $11,601 – $47,150 | 12% | Up to $4,267 |
| $47,151 – $100,525 | 22% | Up to $11,743 |
| $100,526 – $191,950 | 24% | Up to $21,947 |
| $191,951 – $243,725 | 32% | Up to $16,568 |
| $243,726 – $609,350 | 35% | Up to $127,960 |
| Over $609,350 | 37% | 37¢ per $1 over |
The standard deduction reduces your taxable income before tax is calculated. For 2024: Single = $14,600, Married Filing Jointly = $29,200, Head of Household = $21,900. Most taxpayers take the standard deduction — it's only worth itemizing if your deductions (mortgage interest, state taxes, charitable giving, medical expenses) exceed the standard amount.
The Child Tax Credit for 2024 is $2,000 per qualifying child under 17. Up to $1,700 is refundable (the Additional Child Tax Credit). This directly reduces your tax owed, dollar for dollar. For families with multiple children, this credit can significantly reduce tax liability or generate a refund.
This calculator provides an estimate for illustration purposes only. It does not account for all tax situations including self-employment income, capital gains, AMT, education credits, retirement contributions, or state taxes. For an accurate filing, use IRS Free File or consult a qualified tax preparer.