2024 Tax Brackets And Standard Deduction . The standard tax deduction is a set amount that taxpayers are automatically allowed to deduct from their taxable income, thus lowering their total tax owed. 10%, 12%, 22%, 24%, 32%, 35% and 37%.
Here’s how those break out by filing status: For 2024, the additional standard deduction is $1,950 if you are single or file as head of household.
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