Business, Finance & Tech

IRS Announces Tax Changes for 2024: New Brackets and Higher Deductions

Name: IRS Announces Tax Changes for 2024: New Brackets and Higher Deductions
Uploaded: 2024-10-24T07:01:00-07:00
Channel: NBC Palm Springs
Description: The IRS has revealed significant changes for the upcoming tax season. Due to inflation, new tax brackets will see a 2.8% increase for 2024. Standard deductions will rise by $400 for single filers to $15,000, $800 for married couples filing jointly to $30,000, and $600 for heads of households to $22,500. These adjustments will impact tax returns filed in 2026.

By: NBC Palm Springs

October 24, 2024

IRStax changes2024 tax bracketsstandard deductionsinflation adjustmentstax season news

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