Income Tax Brackets 2024 Married Jointly Over 65. Here’s how that works for a single person with taxable income of $58,000 per year: Learn how marginal tax rates work, see tables for all filing statuses, and understand changes from 2023.
Seniors over age 65 may claim an additional standard deduction of $1,950 for single filers and $1,550 for joint filers. At the very top of the income distribution, wages and retirement income are less important, accounting for just 15% of the income of the top 0.01% of households and 7% of.