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2. IRS sets higher standard deduction, new tax brackets for 2025

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   The standard deduction climbs to $30,000 − up $800 from 2024 − for married couples filing jointly. For heads of households, the standard deduction will be $22,500 for tax year 2025, up $600 ...

3. IRS announces higher standard deduction, new tax ... - AOL

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   The standard deduction climbs to $30,000 — up $800 from 2024 — for married couples filing jointly. For heads of households, the standard deduction will be $22,500 for tax year 2025 — up $600 ...

4. 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 ...

5. How the New Standard Deduction Changed Your Tax Bill - AOL

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   The standard deduction for each filing status was almost doubled compared to 2017. While this is a relief for tax payers, it reduces the likelihood of people itemizing deductions.

6. 2023 Tax Updates: What Changes Can You Expect in the ... - AOL

   www.aol.com/finance/2023-tax-updates-changes...

   The standard deduction for married couples filing jointly for tax year 2023 rises to $27,700, up $1,800 from 2022. For single taxpayers and married individuals filing separately, the standard ...

7. 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. Married, filing jointly: $25,900 for 2022, $27,700 for 2023.

8. Tax Reduction and Simplification Act of 1977 - Wikipedia

   en.wikipedia.org/wiki/Tax_Reduction_and...

   The Tax Reduction and Simplification Act of 1977 was passed by the 95th United States Congress and signed into law by President Jimmy Carter on May 23, 1977. [1]It replaced the percentage standard deduction and minimum standard deduction with a single standard deduction of $3,200 (joint returns) and temporarily extended the general tax credit (maximum of $35/capita or 2% of $9,000 income ...

9. The IRS Just Boosted Standard Deduction by 7% - AOL

   www.aol.com/finance/irs-boosts-standard...

   In the past year Americans have seen multiple interest rate hikes, a Social Security cost of living adjustment and the introduction of a $740 Billion inflation reduction act. Amid all the ...