What Is The Standard Deduction For 2024 Irs. The standard deduction for taxpayers who don't itemize their deductions on schedule a (form 1040) is higher for 2023 than it was for 2022. Seniors over age 65 may claim an additional standard deduction of $1,950 for.
Federal income tax rates and brackets. It will rise to $29,200, up from $27,700 in 2024 for.