Irs Tax Guide For Seniors 2024. With pretax accounts, the money grows tax deferred, and you pay ordinary income tax rates on withdrawals, which you have to start making once you reach age. Irs releases publication 554 (2021), tax guide for seniors.

As your income goes up, the tax rate on the next layer of. For 2024 (tax returns typically filed in april 2025), the standard deduction amounts are $14,600 for single and for those who are married, filing separately;