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June 3, 2019
Question

Wondering y I owe so much more than last year

  • June 3, 2019
  • 1 reply
  • 0 views
The only difference was I am single this year

1 reply

Employee
June 3, 2019
That difference can be driving the change in your tax return.  The standard deduction for a married filing jointly tax return is $12,600. The standard deduction for a single person is $6,300. This can have a big impact if your spouse had little or no income.

The standard deduction is an amount that the IRS gives to everyone so that everyone will have some income that is not subject to federal income tax.  The amount of standard deduction depends on your filing status.