Day: September 20, 2019

Tax Reform Provisions that Affect Individuals Standard Deduction Amount Increased For 2019, those who are married and filing jointly will have a standard deduction of $24,400. Single taxpayers and those who are married, and file separately now have a $12,200 standard deduction. For heads of households, the deduction will be $18,350 Insurance Penalty The penalty for not having health insurance no longer applies for 2019 federal tax returns. However, some states have their own individual health insurance mandate, requiring you … Continue reading “2019 IRS Tax Changes”