Tax Brackets 2024 Standard Deduction. 37% for individual single taxpayers with incomes greater than $609,350 and for married couples who file a joint. The irs on thursday announced higher federal income tax brackets and standard deductions for 2024.
For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; The internal revenue service adjusts federal income tax brackets annually to account for inflation, and the new brackets can help you estimate your tax obligation based on.