Ads
related to: 2021 tax standard deductions
Search results
Results From The WOW.Com Content Network
For tax year 2021, the standard deduction for single filers and married people filing separately is $12,550, a $250 increase from 2020. Married taxpayers filing jointly can deduct $25,100, up $300 ...
Federal Tax Brackets 2021 for Income Taxes Filed by April 15, 2022 . Tax Rate. ... For tax year 2020, the standard deduction rises from 2019 levels to $12,400 for single filers, $24,800 for ...
The 2021 standard deductions for all filing statuses are as follows: Single: $12,550 ... In 2021, the federal estate tax exemption rises to $11.7 million from $11.58 million in 2020. The gift tax ...
Under United States tax law, the standard deduction is a dollar amount that non-itemizers may subtract from their ... 2021 [9] $12,550 $25,100 $18,800 2020 [10 ...
Standard Deduction for Tax Years 2020 and 2021. Filing Status. Deduction for Tax Year 2020. Deduction for Tax Year 2021. Single. $12,400. $12,550. Married, filing jointly
[3] [1] Consequently, it provides single parents and other people caring for qualifying dependents with a larger standard deduction and preferential tax rates compared to single filers, reducing their tax liabilities (see chart). [4] In 2021, for instance, heads of households were entitled to an $18,800 standard deduction, compared to $12,550 ...