November 12, 2021
YOUNGSTOWN, Ohio (WKBN) - The Internal Revenue Service announced its tax inflation adjustment for 2022 this week.
The good news is that income thresholds are getting a boost. The standard deduction for married couples filing jointly for tax year 2022 rises to $25,900, up $800 from the prior year. For single taxpayers and married individuals filing separately, the standard deduction rises to $12,950 for 2022, up $400, and for heads of households, the standard deduction will be $19,400 for tax year 2022, up $600.
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