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2. What Is the Standard Deduction Amount for 2022-2023 and When ...

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   Here are the standard deductions for the 2022 and 2023 tax years: Single: $12,950 for 2022, $13,850 for 2023. ... You can itemize deductions by filing Schedule A, Form 1040, Itemized Deductions ...

3. Standard deduction - Wikipedia

   en.wikipedia.org/wiki/Standard_deduction

   Under United States tax law, the standard deduction is a dollar amount that non- itemizers may subtract from their income before income tax (but not other kinds of tax, such as payroll tax) is applied. Taxpayers may choose either itemized deductions or the standard deduction, [1] but usually choose whichever results in the lesser amount of tax ...

4. What Is the Standard Deduction Amount for 2022-2023 and ... - AOL

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   When you file your federal income tax return, you have two choices: take the standard deduction or itemize your deductions. Check Out: 8 IRS Secrets To Know for the 2023 Tax Filing SeasonMore: 3 ...

5. Taxes 2023: What's the standard deduction for people over 65?

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   The IRS considers an individual to be 65 on the day before their 65th birthday. The standard deduction for those over age 65 in 2023 (filing tax year 2022) is $14,700 for singles, $27,300 for ...

6. Earned income tax credit - Wikipedia

   en.wikipedia.org/wiki/Earned_income_tax_credit

   Tax credit equals $0.34 for each dollar of earned income for income up to $10,540. For income between $10,540 and $19,330, the tax credit is a constant "plateau" at $3,584. For income between $19,330 and $41,765, the tax credit decreases by $0.1598 for each dollar earned over $19,330. For income over $41,765, the tax credit is zero.

7. Income tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Income_tax_in_the_United...

   Standard deduction: Individuals get a deduction from taxable income for certain personal expenses. An individual may claim a standard deduction. For 2021, the basic standard deduction was $12,550 for single individuals or married persons filing separately, $25,100 for a joint return or surviving spouse, and $18,800 for a head of household.