2024 Irmaa Brackets Based On 2024 Income Tax Act. For example, you pay 10% on the first $40,000 of income, 25% on the next $20,000 of income (total of $60,000), and 35% on the next $15,000 of income (total of $75,000). Here is how you can learn about the change and how to avoid irmaa.

You pay tax as a percentage of your income in layers called tax brackets.  — the federal income tax has seven tax rates in 2024: