2024 Income Tax Brackets And Deductions U/S. The standard deduction is increasing to $29,200 for married couples filing together and $14,600. This is about half the increase that taxpayers saw in 2024,.
Meanwhile, trump’s plans for extending all the temporary parts of the tax cuts and jobs act could add more than $5 trillion to deficits on their own, particularly if you read the former. The irs has released higher federal tax brackets for 2024 to adjust for inflation.