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2013 Exemptions, Standard Deduction, and Tax Table Each year the personal exemption, standard deduction, and tax rate schedule are indexed for inflation. Exemptions Single For tax year 2013, taxpayers,

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What is exemptions standard deduction and?

The standard deduction is a set amount that taxpayers can subtract from their income before calculating their taxes. Exemptions refer to the amount that can be deducted for each taxpayer and dependents.

Who is required to file exemptions standard deduction and?

Individuals who do not itemize their deductions are eligible to claim the standard deduction. Those who have dependents can also claim additional exemptions.

How to fill out exemptions standard deduction and?

Taxpayers can fill out the exemptions and standard deduction sections on their tax forms by following the instructions provided by the IRS or using tax preparation software.

What is the purpose of exemptions standard deduction and?

The purpose of exemptions and standard deductions is to reduce the taxable income of individuals and families, thereby lowering their overall tax liability.

What information must be reported on exemptions standard deduction and?

Taxpayers must report their filing status, number of dependents, and any additional exemptions they are eligible to claim on their tax return.

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