2024 Tax Rates And Standard Deduction Over 65
2024 Tax Rates And Standard Deduction Over 65. For single filers and heads of households age 65 and over, the additional standard deduction will increase slightly — from $1,950 in 2024 (returns you’ll file soon in early 2025) to. How to file your taxes:
If you don’t itemize deductions, you are entitled to a higher standard deduction if you are age 65 or older at the end of the year. Most taxpayers pay a maximum 15% rate, but a 20% tax rate applies to the extent.