Standard Deduction 2024 Irs 2024. The irs is changing over 60 tax provisions for the 2024 tax year, including a 5% increase to the standard deduction, due to inflation. The standard deduction for people who are married filing jointly will go up $1,500 for the 2024 tax year, up from $27,700 to $29,200.

Seniors over age 65 may claim an additional standard deduction. Federal income tax rates and brackets.