Suzette LivingstonFor the tax year 2020, the standard deduction is $12,400 for single filers (an increase of $200) and $24,800 for married couples filing jointly (an increase of $400). For heads of households, the standard deduction is $18,650 (an increase of $300). These increases are inflation adjustments. (Learn more.) https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2020
The federal tax filing deadline postponement to May 17, 2021, only applies to individual federal income returns and tax (including tax on self-employment income) payments otherwise due April 15, 2021,
The Tax Cuts and Jobs Act suspended tax write-offs for home office deductions through 2025. Note that this could change next year if Congress opts to deliver more tax relief in future COVID-19 relief
R-2019-180, November 6, 2019 WASHINGTON — The Internal Revenue Service today announced the tax year 2020 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules
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