Standard Deduction 2024 Irs Website. The irs expects more than 146 million individual tax returns for 2023 to be filed this filing season, which has a deadline of april 15, 2024. The standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an increase of $750 from 2023.

These amounts are provided in the chart below. Your standard deduction consists of the sum of the basic standard deduction and.