Standard Deduction 2024 Irs 2024 . The irs is increasing the tax brackets by about 5.4% for both individual and married filers across the different income spectrums. For taxable years beginning in 2024, the additional standard deduction amount under § 63(f) for the aged or the blind is $1,550.
Income thresholds for all seven federal tax bracket levels were also revised upward. Seniors over age 65 may claim an additional standard deduction of $1,950 for single filers and $1,550 for joint filers.
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