What Are The Tax Brackets For 2024-25 202425 Single. In 2023, there was one rate for substantial interest (26.9%). The standard deduction for single taxpayers is forecast to rise to $15,000, up from $14,600 in 2024, wolters kluwer said.
The profit you receive from substantial interest, you pay tax in box 2 of income tax. The standard deduction for married couples filing jointly was $29,200 in 2024, while heads of household saw a $21,900 standard deduction in 2024.