2024 Irs Standard Deduction Amount
2024 Irs Standard Deduction Amount. As your income goes up, the tax rate on the next. Seniors over age 65 may claim an additional standard deduction.
You pay tax as a percentage of your income in layers called tax brackets. For the 2024 tax year, the standard deduction will increase by $750 for single filers and those married filing separately, $1,500 for married filing jointly, and $1,100 for heads of household.