2024 Tax Brackets And Standard Deduction. Each year, the irs adjusts the standard deduction, tax brackets, and other tax breaks to compensate for inflation. Budget 2024 has made changes in the deductions in the new tax regime.

9, 2023, the irs announced the annual inflation adjustments for the 2024 tax year. While tax relief for the salaried class through increased standard deductions or adjusted tax brackets is on the table, some experts propose a.