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2020 Federal Tax Rates, Brackets, & Standard Deductions
https://www.irs.com/en/2020-federal-tax-rates-brackets-standard-deductions/
WEBJan 25, 2020 · Here are the 2020 standard deductions amounts for each filing status: There is an additional standard deduction of $1,300 for taxpayers who are over age 65 or blind. The amount of the additional standard deduction increases …
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Information and Filing Standard - Internal Revenue Service
https://www.irs.gov/pub/irs-prior/p501--2020.pdf
WEBStandard deduction increased. The stand-ard deduction for taxpayers who don't itemize their deductions on Schedule A of Form 1040 or 1040-SR is higher for 2020 than it was for 2019. The amount depends on your filing status. You can use the 2020 Standard Deduction Tables near the end of this publication to figure your standard deduction.
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IRS provides tax inflation adjustments for tax year 2020
https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2020
WEBFor single taxpayers and married individuals filing separately, the standard deduction rises to $12,400 in for 2020, up $200, and for heads of households, the standard deduction will be $18,650 for tax year 2020, up $300.
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How much is my standard deduction? | Internal Revenue Service
https://www.irs.gov/help/ita/how-much-is-my-standard-deduction
WEBJan 16, 2024 · Print. Your standard deduction depends on your filing status, age and whether a taxpayer is blind. Learn how it affects your taxable income and any limits on claiming it.
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Here's the 2020 IRS Standard Deduction - The Motley Fool
https://www.fool.com/taxes/2019/11/07/heres-the-2020-irs-standard-deduction-and-what-it.aspx
WEBNov 7, 2019 · For 2020, the standard deduction is rising by $200 to $400, depending on your filing status. To be clear, this is the amount of your adjusted gross income (AGI) that you can exclude...
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Standard Deduction 2020-2021: What It Is and How it Affects …
https://www.wsj.com/articles/standard-deduction-2020-2021-what-it-is-and-how-it-affects-your-taxes-11617911161
WEBApr 8, 2021 · For 2020, the standard deduction is $12,400 for single filers and $24,800 for married couples filing jointly. For 2021, it is $12,550 for singles and $25,100 for married couples.
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2020 Tax Brackets | 2020 Federal Income Tax Brackets & Rates
https://taxfoundation.org/data/all/federal/2020-tax-brackets/
WEBNov 14, 2019 · Standard Deduction and Personal Exemption. The standard deduction for single filers will increase by $200, and by $400 for married couples filing jointly (Table 2). The personal exemption for 2020 remains eliminated. Alternative Minimum Tax.
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What Is the 2020 Standard Deduction? | Credit Karma
https://www.creditkarma.com/tax/i/2020-standard-deduction
WEB• October 21, 2020 • 3 min read. In a Nutshell. The 2020 standard deduction amounts for federal income taxes have risen slightly because of inflation. Like all tax deductions, the standard deduction reduces the amount of your income that’s subject to tax — and could help lower your tax obligation.
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IRS Releases 2020 Tax Rate Tables, Standard Deduction Amounts ... - Forbes
https://www.forbes.com/sites/kellyphillipserb/2019/11/06/irs-releases-2020-tax-rate-tables-standard-deduction-amounts-and-more/
WEBNov 6, 2019 · They are: 10%, 12%, 22%, 24%, 32%, 35% and 37% (there is also a zero rate ). Here's how those break out by filing status: Single 2020. KPE. MFJ 2020. KPE. HOH 2020. KPE. MFS...
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What Are Standard Tax Deductions? - TurboTax Tax Tips & Videos
https://turbotax.intuit.com/tax-tips/tax-deductions-and-credits/what-are-standard-tax-deductions/L7oiVM1DH
WEBDec 10, 2023 · For 2024, these amounts are increased to $14,600 for those filing as Single or Married Filing Separately, $21,900 for those filing as Head of Household, and $29,200 for those filing as Surviving Spouse or Married Filing Jointly. Is the Standard Deduction different if someone claims you as a dependent? Reviews: 140.5K
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