2024 Standard Deductions And Tax Brackets. The standard deduction for single. For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023;

The irs unveiled new tax brackets and larger standard deductions for 2024, allowing most americans to hold on to more of their income to keep up with inflation. 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.