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The filing deadline for most 2023 federal and state of Michigan income tax returns is April 15, 2024. ... The standard deduction is somewhat higher on 2023 federal income tax returns after an ...
Harnois read the stories in the newspaper nearly a year ago when Gov. Gretchen Whitmer signed legislation on March 7, 2023, to give the state's ... Michigan standard deduction is reduced by other ...
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). Consider the ...
The Michigan Treasury is processing both the supplemental checks for the 2022 tax year for the Michigan earned income tax credit and individual income tax refunds for the 2023 tax year.
Tax credits and deductions were already confusing many of us before all of this year's substantial changes. Good Question: What Is the Standard Deduction for People Over 65 in 2023? FICO Fix: 3...
The standard deduction is rising 6.9% or 7.2%, depending on filing status, while the Earned Income Tax Credit amount will increase by 7.1%, the Internal Revenue Service announced this week ...
Individuals who are 65 or older and those who are blind can claim an additional $1,750 for tax-year 2022, bringing their total standard deduction to $14,700. The standard deduction also increases ...
The IRS reduced the standard deduction for miles driven for medical purposes or for moving (applicable only to qualified active-duty members of the Armed Forces) from 22 cents per mile in 2023 to ...