2024 Tax Brackets And Standard Deduction. The standard deduction, which reduces the amount of income you must pay taxes on, is claimed by a majority of taxpayers. The 2024 standard deduction amounts are as follows:
An announcement from the irs reads, โthe standard deduction for married couples filing jointly for tax year 2024 rises to $29,200, an increase of $1,500 from tax year 2023. The irs is changing over 60 tax provisions for the 2024 tax year, including a 5% increase to the standard deduction, due to inflation.
2024 Tax Brackets And Standard Deduction Images References :
