What Is Standard Tax Deduction For 2024 Taxes. Replying to a debate on finance bill (no.2), 2024 in the lok sabha, she said the tax incidence on the middle class has been reduced with the increase in standard. A) five income tax slabs.
Here are the standard deduction amounts set by the irs: For the 2024 tax year, the standard deduction will increase by $750 for single filers and those married filing separately, $1,500 for married filing jointly, and $1,100 for heads of household.