What Is Standard Tax Deduction For 2024 Taxes
What Is Standard Tax Deduction For 2024 Taxes. The standard deduction will rise to $14,600 for single taxpayers, a $750 increase, the agency announced thursday. The standard deduction is a fixed dollar amount that reduces the amount of income you get taxed on.
If you are 65 or older and blind, the extra standard deduction for 2024 is $3,900 if you are single or filing as head of household. The irs estimates that 90% of tax filers.