2024 Tax Rates And Standard Deduction U/S. Under the latest adjustment, the standard deduction will climb to $14,600 for individuals in 2024, up from $13,850. Here's what you need to know.


2024 Tax Rates And Standard Deduction U/S

The tcja reduced most of the seven individual income tax rates, including lowering the top rate from 39.6% to 37%. For tax year 2024, which applies to taxes filed in 2025, there are seven federal tax brackets with income tax rates of 10%, 12%, 22%, 24%, 32, 35%, and 37%.

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