Tax Brackets 2024 Married Jointly Irs

Tax Brackets 2024 Married Jointly Irs. The lower your taxable income is, the lower your tax bill. The standard deduction for couples filing jointly is $29,200 in 2024, up from $27,700 in the 2023 tax year.

The standard deduction is the fixed amount the irs allows you to deduct from your annual income even if you don’t itemize your tax return. The change will raise the top tax rate of 37% to $609,350 for individuals and $731,200 for married couples filing jointly—up from the current tax season’s threshold.