Single Tax Brackets 2024 Standard Deduction. 22, 2024, the irs announced the annual inflation adjustments for 2025. Also, for 2024, it's predicted that the standard deduction for an individual who may be claimed as a dependent by another taxpayer will not be more than:
For instance, as a single filer in 2024 earning $35,000 in taxable income, some of your income would be taxed at 10%, while the remainder falls into the 12% bracket. Here’s how those break out by filing status: