2024 Standard Tax Deduction Irs. The irs on thursday announced higher federal income tax brackets and standard deductions for 2024. The standard tax deduction is a set amount that taxpayers are automatically allowed to deduct from their taxable income, thus lowering their total tax owed.


2024 Standard Tax Deduction Irs

Here are the standard deduction amounts set by the irs: The standard deduction is a specific dollar amount that reduces the amount of income on which you’re taxed.

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