Standard Deduction For 2024 And 2024 . Finance minister nirmala sitharaman said that new tax regime slabs will be changed and standard tax deduction increased from 50,000 to 75,000. The irs on thursday announced higher federal income tax brackets and standard deductions for 2024.
The difference between standard and itemized deductions, and what they mean. The standard deduction for married couples filing jointly was $29,200 in 2024, while heads of household saw a $21,900 standard deduction in 2024.
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