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The standard deduction for taxes nearly doubles

Posted 2/17/23

As most individuals and tax professionals know by now, the standard deduction almost doubled under the Tax Cuts and Jobs Act for the single, married filing jointly, married filing separately, head of household and surviving spouse filing statuses. For the 2022 tax year under the act, the standard deduction dollar amounts increased to:

● $25,900 for MFJ and surviving spouses

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