2024 Standard Deduction Married Filing Joint Benefit
2024 Standard Deduction Married Filing Joint Benefit. — the standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2). — for taxable years beginning in 2024, the additional standard deduction amount under § 63(f) for the aged or the blind is $1,550.
To keep in line with inflation, the irs has raised income thresholds for all tax brackets and increased the standard deduction. Single filers are taxed at the lowest marginal tax rate of.