The temporary expansion of the standard deduction is continuing to affect millions. Here's what you need to know as you file your taxes
The standard deduction is the amount taxpayers can subtract from income if they don’t break out deductions for mortgage interest, charitable contributions, state and local taxes and other
items separately onFor 2021, the standard deduction is $12,550 for single filers and $25,100 for married couples filing jointly. For 2022, it is $12,950 for singles and $25,900 for married couples.
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