2024 Standard Deductions And Tax Brackets. — for individuals, the new maximum will be $14,600 for 2024, up from $13,850, the irs said. If you have enough deductions to exceed the standard deduction for your filing status.
— for individuals, the new maximum will be $14,600 for 2024, up from $13,850, the irs said. The irs has released higher federal tax brackets for 2024 to adjust for inflation.