Irs 2024 Standard Deductions And Tax Brackets

Irs 2024 Standard Deductions And Tax Brackets. Taxpayers will also have higher standard deductions in the 2024 tax year. 10%, 12%, 22%, 24%, 32%, 35%, and 37%.

And for heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of $1,100 from the. For instance, the 22% tax bracket for single filers applies to $50,650 of income for the 2023 tax year (i.e., income from $44,726 to $95,375), but it applies to $53,375 of income for.