Irs Income Tax Standard Deduction 2024. Most people take the standard deduction, which lets you subtract a set amount from your income based on your filing status. The irs will publish the official tax brackets and other tax numbers for 2024 later this year, likely in october.

The internal revenue service (irs) adjusts tax brackets for inflation each year, and because inflation remains high, it’s possible you could fall into a lower bracket for the. Here are the standard deduction amounts set by the irs: