18 June 2022 10:12

Did the GOP eliminate the additional standard deduction for “elderly” in the Tax Reform law

What is the 2021 standard deduction?

$12,550

2021 Standard Deductions
$12,550 for single filers. $12,550 for married couples filing separately. $18,800 for heads of households. $25,100 for married couples filing jointly.

What are the new tax changes for 2020?

Top 9 Tax Law Changes for Your 2020 Taxes

  • The standard deduction increased for inflation.
  • Changes to retirement savings rules and limits.
  • Mortgage insurance premiums are still deductible.
  • Changes to educational tax breaks.
  • Energy-related tax credits are still available.
  • Higher income limits for the pass-through deduction.