Irs 2024 Standard Deductions And Tax Brackets. For single taxpayers and married individuals filing separately, the standard deduction will rise to $14,600 for 2024, up $750 from this year; The 2024 tax year standard deductions will increase to $29,200 for married couples filing jointly, up $1,500 from $27,700 for the 2023 tax year.
A handful of tax provisions, including the standard deduction and tax brackets, will see new limits and thresholds. The federal income tax has seven tax rates in 2024: