Most people take the standard deduction rather than itemizing. It's far less work, and the amounts are now high enough that only a small percentage of taxpayers gets a bigger break by itemizing their deductions.

Annual inflation adjustments brought a modest rise in standard deductions for 2021:

SOURCE: IRS.

In addition to these base standard deductions, those who are 65 or older or are blind get an extra add-on. For those who are married, the added amount is $1,350, while singles get to add $1,700. Both of those figures are $50 higher in 2021 than they were in 2020. If you're 65 or older and blind, then you can boost your standard deduction by double the relevant amount. Moreover, for joint filers, each spouse has an opportunity to get these added amounts. So married couples in which both spouses are over 65 and are blind would see their standard deduction increase by $5,400 -- or $1,350 times four.

The standard deduction amount for those minor children who have to file income tax returns remained the same in 2021 as it was in 2020. Children always get at least $1,100 as a standard deduction, and if they get more than $750 in earned income from work, then the standard deduction is their total earned income plus $350 more up to the regular standard deduction in the table above.