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2. Tax breaks after 50 you might not know about - AOL

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   Additional standard deductions. Once you or your spouse turn 65, you can qualify for an additional standard deduction on top of the basic standard deduction you’d normally receive — or $14,600 ...

3. Retirees 65 and Older Eligible for Extra Standard Deduction ...

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   The standard deduction amounts for 2023 are $27,700 if you’re married filing jointly (an increase of $1,800 from 2022), $20,800 for heads of households (a $1,400 gain) and $13,850 for single ...

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

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   The standard deduction will go up to $15,000 for 2025 tax returns — up $400 from 2024 − for single taxpayers and married people filing separately.. The standard deduction climbs to $30,000 − ...

5. Standard deduction - Wikipedia

   en.wikipedia.org/wiki/Standard_deduction

   For dependents, the standard deduction is equal to earned income (that is, compensation for services, such as wages, salaries, or tips) plus a certain amount ($400 in 2023). A dependent's standard deduction cannot be more than the basic standard deduction for non-dependents, or less than a certain minimum ($1,250 in 2023).

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

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   However, if you are 65 or older on the last day of the year and don’t itemize deductions (or are blind), you can claim an additional standard deduction. The IRS considers an individual to be 65 ...

7. Top Tax Deductions and Tax Credits You Should Know for 2023 - AOL

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   You can claim a deduction for medical and dental expenses that are greater than 7.5% of your adjusted gross income if you itemize deductions. Qualifying expenses include payments to doctors and ...

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

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   The standard deduction will go up for 2025 tax returns by $400 from 2024 for single taxpayers and married individuals filing separately. IRS announces higher standard deduction, new tax brackets ...

9. Tax Reform Act of 1976 - Wikipedia

   en.wikipedia.org/wiki/Tax_Reform_Act_of_1976

   The previous major tax legislation (Tax Reform Act of 1969) had established a 10% minimum tax and while it had left long-term capital gains under $50,000 to continue to qualify for the 25 percent alternative capital gains tax rate, it increased the rate on gains over $50,000 to 29.5 percent in 1970, 32.5 percent in 1971, and 35 percent (one-half the 70 percent top tax rate applicable to ...