2024 Income Tax Brackets Filing Jointly Vs Separately. Yep, this year the income limits for all tax brackets will be adjusted for inflation, so let’s take a closer look at what tax rates and tax brackets are and how they change how much you pay in federal. There has been no official announcement regarding an increase in the section 80c deduction limit for budget 2024.

There are seven federal tax brackets for tax year 2024. For example, the 2023 standard deduction for married filing jointly is $27,700 ($29,200 in 2024) versus just $13,850 ($14,600 in 2024) for married filing separately.