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IRS announces federal income tax brackets for 2023nThe IRS today unveiled federal income tax brackets and other tax changes for the 2023 tax year.nnThe agency tweaks multiple tax provisions annually to account for inflation, including tax brackets. While tax rates remain the same, the income limits that apply to each rate have been adjusted.nnThe 2023 changes generally apply to tax returns filed in 2024, the IRS said.nnBelow are the new brackets for both individuals and married coupled filing a joint return:n37% for individual single taxpayers with incomes greater than $578,125 ($693,750 for married couples filing jointly)n35% for incomes over $231,250 ($462,500 for married couples filing jointly)n32% for incomes over $182,100 ($364,200 for married couples filing jointly)n24% for incomes over $95,375 ($190,750 for married couples filing jointly)n22% for incomes over $44,725 ($89,450 for married couples filing jointly)n12% for incomes over $11,000 ($22,000 for married couples filing jointly).n10% for incomes of single individuals with incomes of $11,000 or less ($22,000 for married couples filing jointly)nThe IRS also announced new standard deduction amounts:nn$27,700 for married couples filing jointly, up $1,800 from the prior yearn$13,850 for single tax payers and married individuals filing separately, up $900n$20,800 for heads of households, up $1,400.