2024 Tax Rates Standard Deduction. The agency has boosted the income thresholds for each bracket,. 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 tax cuts and jobs act (tcja) increased the standard deduction (set at $14,600 for single filers and $29,200 for joint filers in 2024) while suspending the personal. Capital gains rates will not change in 2024, but the brackets for the rates will change.