2024 Standard Deductions And Tax Rates. The 2024 standard deduction is $14,600 for single filers, $29,200 for joint filers and $21,900 for heads of household. The 2024 tax year standard deductions will increase to $29,200 for married couples filing jointly, up $1,500 from $27,700 for the 2023 tax year.
Finance minister nirmala sitharaman said that new tax regime slabs will be changed and standard tax deduction increased from 50,000 to 75,000. And for heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of.
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