2024 and 2025 tax brackets and current federal income tax rates
Preparing for the 2025 tax season and unsure about your federal tax bracket and income tax rate? Here’s everything you need to know.
5 min read
Dec 24, 2024
Andrea Coombes, CFP®
Editor, Tax
EDUCATION
- University of California at Berkeley/B.A. in Sociology
- University of California at Berkeley/Master’s in Journalism
Andrea Coombes, a tax editor at Bankrate, loves to translate complex personal finance topics into understandable content that helps people live their best financial lives. She’s a Certified Financial Planner™ and over the past 20 years has worked as a financial coach, personal finance writer and editor and volunteer tax preparer.
Her work has been published in the Wall Street Journal, USA Today, Yahoo Finance, San Francisco Chronicle, Miami Herald and more.
Andrea's latest articles
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Some taxpayers to get $1,400 payments for unclaimed stimulus tax credit
The IRS will send an estimated $2.4 billion to taxpayers who didn’t claim the recovery rebate credit on their 2021 tax returns. About 1 million taxpayers were eligible for the credit but failed to claim [...]
2 min read Dec 23, 2024 -
Medical expense deduction: How to claim medical costs on your taxes
You may be able to deduct certain medical expenses if they meet IRS requirements.
3 min read Dec 21, 2024 -
Free tax filing with IRS Direct File: What you need to know
The IRS Direct File program, which lets you prepare and file your federal return for free, is expanding to 24 states for the 2025 tax season.
4 min read Dec 20, 2024 -
How long to keep tax returns and other IRS records
In many cases, keeping tax records for three years is sufficient, but there are exceptions.
3 min read Dec 20, 2024 -
Marginal tax rate: What it is and how to find yours
The marginal tax rate is the highest income tax rate you’ll pay on your income. Because the U.S. has a progressive tax system, different tiers of your income are taxed at different rates. The marginal [...]
5 min read Dec 18, 2024 -
7 tips to prepare for next year’s taxes now
Now’s the time to start preparing for the upcoming tax filing season. Here are 7 tips to get you on track.
4 min read Dec 18, 2024 -
What is adjusted gross income (AGI), and why does it matter?
Your adjusted gross income, or AGI, is your gross income minus a handful of above-the-line deductions.
3 min read Dec 17, 2024