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  3. IRS Announces Tax Brackets and Other Inflation Adjustments for Tax Year 2022

    • Standard Deduction The standard deduction—which is claimed by the vast majority of taxpayers—will increase by $800 for married couples filing jointly, going from $25,100 for 2021 to $25,900 for 2022. ...
    • Tax Rates Not Changed, But Brackets Increase ...
    • Maximum Long-Term Capital Gains ...
    • Alternative Minimum Tax ...
    • 2022 Earned Income Tax Credit (EITC) ...
    • 2022 Child Tax Credit ...
    • Maximum Exclusion for Gifts ...
    www.investopedia.com/irs-announces-tax-brackets-and-other-inflation-adjustments-for-tax-year-2022-5209190
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    What is the standard deduction for 2022?The standard deduction for married couples filing jointly for tax year 2022 rises to $25,900 up $800 from the prior year. For single taxpayers and married individuals filing separately, the standard deduction rises to $12,950 for 2022, up $400, and for heads of households, the standard deduction will be $19,400 for tax year 2022, up $600.
    What are the new tax brackets and standard deductions for 2022?The IRS has announced new standard deductions and new tax brackets for 2022, reflecting higher price levels thanks in part to inflation. While the top federal tax rate remains at 37% for 2022 (as of writing this post), less of your income will likely get hit by this tax rate.
    How many tax brackets are there in 2022?2022 Tax Bracket and Tax Rates There are seven tax rates in 2022: 10%, 12%, 22%, 24%, 32%, 35% and 37%. Here's how they apply by filing status: 2022 Standard Deduction Amounts
    What is the tax rate for 2022?These are broken down into seven (7) taxable income groups, based on your federal filing statuses (e.g. whether you are single, a head of household, married, etc). The federal income tax rates for 2022 are: 10%, 12%, 22%, 24%, 32%, 35%, and 37%, depending on the tax bracket. What are the tax brackets for 2022?
     
  5. WEBMar 2, 2023 · For tax year 2022, for example, the standard deduction for those filing as married filing jointly is $25,900, up $800 from the prior year. But that deduction applies to income earned in 2022,...

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