tax credits

2024 Tax Brackets: Here's Why Your Paycheck May Be Bigger This Year

Last year, the IRS announced several key tax code changes, including a boost to income tax brackets. For some folks, these changes could impact how much tax is withheld from their paycheck. 

Both federal income tax brackets and the standard deduction have increased for 2024. This change is in response to sticky inflation, which has kept prices high all year. The higher amounts will apply to your 2024 taxes, which you'll file in 2025.