2024 Tax Tables And Standard Deductions Table. As economic conditions fluctuate, the irs regularly adjusts these brackets to. The standard tax deduction is a set amount that taxpayers are automatically allowed to deduct from their taxable income, thus lowering their total tax owed.
The 2024 standard deduction for tax returns filed in 2025 is $14,600 for single filers, $29,200 for joint filers or $21,900 for heads of household. In 2024, the income limits for all tax brackets and all filers will be adjusted for inflation and will be as follows (table 1).