Irs 2024 Standard Deductions And Tax Brackets. The irs is changing over 60 tax provisions for the 2024 tax year, including a 5% increase to the standard deduction, due to inflation. For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023;

There are seven (7) tax rates in 2024. These tax rates are for the 2024 tax year covering tax returns that will be filed in 2025.