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What Is Standard Tax Deduction For 2024 Taxes

What Is Standard Tax Deduction For 2024 Taxes. The irs adjusts the standard deduction each year for inflation.  — the standard deduction is a fixed dollar amount that reduces the amount of income you get taxed on.


What Is Standard Tax Deduction For 2024 Taxes

 — for the 2023 tax year, which is filed in early 2024, the federal standard deduction for single filers and married folks filing separately was $14,600. The budget 2024 announced a rs.25,000 hike in the standard deduction under the new regime.

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