2024 Standard Tax Deductions 2024. That’s a $750 increase over 2023. Learn how the standard deduction can lower your taxable income and simplify your tax filing.
Project 2025 proposes to “simplify” the tax code by collapsing the complex system into two tax brackets — 15 percent and 30 percent — while eliminating most. Tax rates report, giving you an early look at what brackets and other key tax figures will look like in 2024.