2024 Standard Deduction For Seniors

2024 Standard Deduction For Seniors. The internal revenue service detailed the increases in its annual inflation adjustments announced tuesday. For heads of households, the standard deduction will be $22,500 for tax.

The standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an increase of $750. The limit on payroll contributions to fsas rises to $3,300 in 2025, up from $3,200 in 2024, the irs says.