2024 Tax Rates And Standard Deductions Over 65. You're considered to be 65 on the day before your 65th birthday (for. The standard deduction for those over age 65 in tax year 2023 (filing in 2024) is $15,700 for singles, $29,200 for married filing jointly if only one partner is over 65 (or $30,700.

Most taxpayers pay a maximum 15% rate, but a 20% tax rate applies to the extent that taxable income exceeds the thresholds set for the 37% ordinary tax rate. Over the last decade the cola increase has averaged about 2.6 percent.