IRS tax reduction if your salary does not exceed $44,000 in 2024

A citizen's salary is important when making the Tax Return to the IRS, since the taxes paid depend on the money earned

The IRS announces the new tax brackets and it is different in 2024

The IRS announces the new tax brackets and it is different in 2024

The salary we get each month will determine the taxes we are going to pay in the following years. The more income, the more taxes we have to pay to the IRS. This works the same in all the United States, although some States may have different taxes depending on each situation.

What is certain is that $44,000 is a very important barrier in this year 2024. Those who exceed that income may have to pay more taxes, so we must watch out when making our Tax Return, since we must take into account that we have to pay more taxes.

So, it is true that we are talking only about a citizen who makes the declaration alone. This changes in the case that we make a joint declaration or as head of the family. At the moment we are only talking about this category of IRS filer.

IRS taxes on wages under $44,000

As we have already discussed, the category in which we file our taxes is really important. If we do not live alone or do not file alone, the amount of taxes payable to the IRS is different. But in the case of filing alone, the tax bracket can be very different from one step to the next.

For a single filing separately, this is the tax bracket you will pay in this year 2024 with 2023 income. As you can see, if we earn less than $44,000, the payment is only 12%, something very much to keep in mind.

Tax Rate

Single person

10%

$11,000 or less

12%

$11,001 to $44,725

22%

$44,726 to 95,375

24%

$95,376 to $182,100

32%

$182,101 to $231,250

35%

$231,251 to $578,125

37%

Over $578,125

Even so, it is true that by next year 2025, the 2024 income may be higher and still pay less tax. In this case, we should take into account the following table:

Tax Rate

Single person

10%

$11,600 or less

12%

$11,601 to $47,150

22%

$47,151 to $100,525

24%

$100,526 to $191,950

32%

$191,951 to $243,725

35%

$243,726 to $609,350

37%

Over $609,350

So you know that by the time we do the Tax Return in 2025 you will have to pay a little less tax even if your salary is higher. In case you have already sent your Tax Return in 2024 you will have seen all this reflected in the documentation. Remember that until October 15 it is possible to send the Tax Return to the IRS, but only for those specific Americans who have the possibility of an extension of the deadline.

Also, don’t forget that Social Security beneficiaries must also file a Tax Return in many cases. It’s true that it all depends on the retirement check they have, but some have to make a payment, which makes the Tax Return to the IRS mandatory.

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