The standard deduction is one that's available to all taxpayers. The exact amount of the IRS standard deduction ... jumping about 5.4% from 2023 levels. Additional standard deduction for seniors ...

Overall, for example, we're talking about roughly a 2.7% inflation-related adjustment that would apply to the standard deduction ... 5.4% in 2024 and 7.1% in 2023. “Each year select elements ...

The IRS announced the 2024 tax brackets and tax tables. Given many people are interested in the changes, we wanted to include ...

An announcement from the IRS reads, “The standard deduction for married couples filing jointly for tax year 2024 rises to $29,200, an increase of $1,500 from tax year 2023. “For single ...

A significant tax overhaul in 2017 bulked up standard deduction amounts, and in recent years, the IRS has made them even bigger as inflation soared. The standard deduction is a flat dollar amount ...

Because inflation jumped during the pandemic, the bracket adjustments were larger in the past few years, reaching 7% in 2023 ... standard deduction as well as other deductions and tax credits ...

The good news is that the IRS standard deduction for retirees can significantly reduce your taxable income, potentially lowering your tax bill for the 2025 tax season. Once you reach the age of 65 ...

Overall, for example, we're talking about roughly a 2.7% inflation-related adjustment that would apply to the standard deduction ... 5.4% in 2024 and 7.1% in 2023. “Each year, select elements ...