Tax guide

How does President Trump’s tax bill change the standard deduction?

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In the GOP tax bill, The Tax Cuts and Jobs Act, the standard deduction is increased significantly for single filers and married couples filing jointly.

It is estimated that more than 27 million taxpayers will now be more likely to take the standard deduction rather than itemizing deductions.

For standard deduction amounts, head to the Tax Reform 101 page on the Tax Guide.

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