2024 Tax Rates Standard Deduction. For 2024 tax returns, assuming there are no changes to their marital or vision status, jim and susan’s standard deduction would be $33,850. Regardless of your bracket, you must file taxes by april 15, 2024, though there are exceptions.
Standard deductionthe standard deduction reduces a taxpayer’s taxable income by a set amount determined by the government. The irs on thursday announced higher federal income tax brackets and standard deductions for 2024.
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