Sentences with phrase «doubles standard deduction amounts»
The legislation nearly doubles standard deduction amounts to $ 12,000 for single filers (and married taxpayers filing separately), $ 18,000 for heads of household, and $ 24,000 for married taxpayers filing jointly.
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Increased standard deduction: The new tax law nearly doubles the standard deduction amount.
Not exact matches
The Tax Cuts and Jobs Act's higher standard deduction was sold to the American public as a «doubling» of the deduction amount.
The TCJA nearly doubles the existing standard deduction amounts for tax years 2018 — 2025.
«The Republican tax proposal makes sensible reforms in lowering the amount of a mortgage against which the MID can be claimed to $ 500,000 for new - home loans and doubling the standard deduction.
Changes being considered include the elimination of the federal tax deduction for state and local taxes, a proposal to double the standard deduction — which would effectively nullify the value of the mortgage interest deduction for all but the highest - earning families — and a cap on the amount of mortgage interest that could be deducted.