What Is The Standard Deduction For 2024 Mfj. A handful of tax provisions, including the standard deduction and tax brackets, will see new limits and. 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 income you earn in 2024.

What is the standard deduction for 2024 irs. Section 63(c)(2) provides the standard deduction for use in filing individual income tax returns.