“The IRS offers it to simplify the tax ... A single person had an income of $100,000 in 2023. She’s entitled to a standard deduction of $13,850, so the tax break reduces her taxable income ...

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 ...

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. If you are over age 65 or blind, you ...

The IRS on Tuesday announced new inflation-adjusted tax brackets for the coming year, setting the standard deduction for a single ... the 7 percent adjustment for 2023. High inflation in recent ...

Inflation may be taking more out of workers’ pay, but it also has a silver lining with the taxman, as the IRS announced Tuesday that it is hiking the standard deduction ... in 2023 and $14,600 ...

In tax adjustments announced last year, for example, the IRS raised single filers’ standard deduction by $750 between the 2023 and 2024 tax years — and by $1,500 and $1,100 for married couples ...

The Internal Revenue Service on Tuesday announced the annual inflation adjustments for standard ... in 2023. More: Trump's proposed car loan deduction isn't as shiny as you'd think More: IRS ...

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 ...