More Americans to Use Standard Deductions This Year
The second in a five part series explains why standard deductions rise and a tax credit for child care and the elderly reduces the need to itemize. It outlines when to use Form 1040A or 1040 and when itemizing may still be advantageous based on income and deductions. The piece suggests calculating tax three ways to maximize savings.
MENTIONED IN THIS ARTICLE
Jim Luther
Associated Press
Washington
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