Author: Michael

2020 Income Tax Rates Released by the IRS

For the early planners, the IRS announced updated 2020 income tax rates this week. There are 6 federal income tax brackets for 2020 – 12%, 22%, 24%, 32%, 35%, and 37%. The standard deduction for married couples filing jointly will rise from $24,400 to $24,800 for tax year 2020. Single taxpayers and married individuals filing …

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