Federal Tax Brackets 2024 Standard Deduction. On november 9th, the irs announced the official inflation adjustments for 2024. So far in 2024, the average federal income tax refund is $3,145 — an increase of just under 6% from 2023.
The average income tax rate in 2021 was 14.9 percent. The 2024 tax year features seven federal tax bracket percentages: