Tax Changes and Key Amounts for the 2024 Tax Year

There are lots of tax changes for 2024. Some reflect prior-year inflation. Others are new rules. But one thing is certain...all taxpayers are affected.

2024 written on wooden blocks with the 4 tilted
(Image credit: Getty Images)

Proper tax planning requires an awareness of what's new and changed from last year, and there are lots of tax law changes and updates for 2024 that you need to know. 

To help, we put together a list of the most important tax law changes and adjustments for 2024, with some related items grouped. Pay attention to these changes because they can hurt or help your bottom line. Use this information now so you can hold on to more of your hard-earned money when it's time to file your 2024 federal income tax return (in early 2025).

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Joy Taylor
Editor, The Kiplinger Tax Letter

Joy is an experienced CPA and tax attorney with an L.L.M. in Taxation from New York University School of Law. After many years working for big law and accounting firms, Joy saw the light and now puts her education, legal experience and in-depth knowledge of federal tax law to use writing for Kiplinger. She writes and edits The Kiplinger Tax Letter and contributes federal tax and retirement stories to and Kiplinger’s Retirement Report. Her articles have been picked up by the Washington Post and other media outlets. Joy has also appeared as a tax expert in newspapers, on television and on radio discussing federal tax developments.