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Tag: 2020 tax rates

Inflation Adjustment: 2020 Tax items of most interest

Posted on November 8, 2019November 8, 2019 by John Nash

This just in from Internal Revenue Service (IRS) <irs@service.govdelivery.com> (see web page at https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2020): The tax items for tax year 2020 of greatest interest to most taxpayers include the following dollar amounts: The standard deduction for married filing jointly rises to $24,800 for tax year 2020, up $400 from the prior year. For single taxpayers…

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