Standard Deduction For 2024 Taxes For Seniors.  — trump has also called for other costly tax cuts on the campaign trail, including cutting the corporate tax rate to 15 percent, exempting tips from taxes and not taxing social security. Fm nirmala sitharaman has made two announcements for those opting for the new tax regime.

Taxpayers who are age 65 or older can claim an additional standard deduction, which is added to the regular.  — the additional standard deduction for the aged or the blind will be $1,550.