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  • Suzette Livingston

Income tax brackets

For 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

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