IRS Increases Tax Deductions for 2020
The IRS recently announced the list of increased tax deductions for 2020. The Internal Revenue Service recently issued its annual inflation adjustments for dozens of tax items for the tax year 2020. The IRS increased tax deductions for 2020. The taxman is letting you keep more of your income. The IRS increased the standard deduction to $12,400 for single filers and $24,800 for married couples filing jointly. An individual can transfer up to $11.58 million without being subject to the 40%...