Dodie Stacia

Standard Deduction For 2024 Tax Year Irs. The irs has released the annual inflation adjustments for 2024 for the income tax rate tables, plus more than 60 other tax provisions. In 2024, the standard deduction is worth $14,600 for single filers, $29,200 for joint filers and $21,900 for heads of.

For the tax year 2024, the standard deduction for married couples filing jointly will increase to $29,200, an increase of $1,500 over the tax year 2023. The standard deduction is indexed for inflation annually.