The personal exemption for tax year 2022 remains at 0, as it was for 2021, this elimination of the personal exemption was a provision in the Tax Cuts and Jobs Act.For single taxpayers and married individuals filing separately, the standard deduction rises to $12,9, up $400, and for heads of households, the standard deduction will be $19,400 for tax year 2022, up $600. The standard deduction for married couples filing jointly for tax year 2022 rises to $25,900 up $800 from the prior year.The tax items for tax year 2022 of greatest interest to most taxpayers include the following dollar amounts: The tax year 2022 adjustments described below generally apply to tax returns filed in 2023.
Highlights of changes in Revenue Procedure 2021-45:
#CURRENT 2022 TAX BRACKETS PDF#
Revenue Procedure 2021-45 PDF provides details about these annual adjustments. WASHINGTON - The Internal Revenue Service today announced the tax year 2022 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes.
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