2024 Tax Rates And Standard Deduction

2024 Tax Rates And Standard Deduction. The standard tax deduction is a set amount that taxpayers are automatically allowed to deduct from their taxable income, thus lowering their total tax owed. $14,600 for single individuals and married individuals filing.


2024 Tax Rates And Standard Deduction

$14,600 for single individuals and married individuals filing. An announcement from the irs reads, “the standard deduction for married couples filing jointly for tax year 2024 rises to $29,200, an increase of $1,500 from tax year 2023.

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