Standard Deduction 2024 Irs. Here's a look at the projected numbers for the tax year 2024, beginning jan. Here are the standard deduction amounts for the 2023 tax returns that will be filed in 2024.

The standard deduction reduces your taxable income to help lower your federal tax bill. The standard deduction allows many taxpayers to reduce their taxable income by an amount the irs sets, based on their filing status.