Standard Deduction For 2024 Tax Year. Section 63 (c) (2) of the code provides the standard deduction for use in filing individual income tax returns. In a major change, landry is proposing a flat corporate tax rate of 3.5% (the top rate is 7.5%), doubling the standard deduction for seniors and collapsing the existing graduated individual.
For the 2023 tax year (for forms you file in 2024), the standard deduction is $13,850 for single filers and married couples filing separately, $27,700 for married couples filing jointly and. Here are the standard deduction amounts set by the irs:
Standard Deduction For 2024 Tax Year Images References :
