Irs Standard Deduction 2024

Irs Standard Deduction 2024. The irs expects more than 146 million individual tax returns for 2023 to be filed this filing season, which has a deadline of april 15, 2024. The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2).

And for heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of $1,100 from the. Here’s how that works for a single person with taxable income of $58,000 per year: