Irs 2024 Standard Deduction For Seniors. The internal revenue service (irs) adjusts tax brackets for inflation each year, and because inflation remains high, itโs possible you could fall into a lower bracket. The irs has released the standard deduction amounts for 2024, which increase the amounts that will be available on 2023 tax returns.
If you are 65 or older or blind, you can claim an additional standard deduction. Tax information for seniors and retirees, including typical sources of income in retirement and special tax rules.
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