Irs 2024 Standard Deduction For Seniors. Understand how that affects you and your taxes. 2024 tax rates and deductions for seniors lita sherri, for single taxpayers and married individuals filing.

Seniors over age 65 may claim an additional standard deduction of $1,950 for single filers and $1,550 for joint filers. The internal revenue service (irs) adjusts tax brackets for inflation each year, and because inflation remains high, it’s possible you could fall into a lower bracket for the income you earn in 2024.