Question: How much is the new standard deduction?
- Single $12,200
- Married filing Joint $24,400
- Head of Household $18,350
- Married filing separate $12,200
Question: Why do I have to efile?
Answer: Individuals who file their returns electronically consistently report a much higher satisfaction level with the filing process than do the individuals who file their returns on paper.
E-filing reduces errors, results in faster refund times, and is safe and secure. The IRS estimates a 7-10 day refund time for e-filed returns with electronic deposit of the refund.
Question: What are the AMT exemptions for 2019? (Alternative Minimum Tax)
New law. For tax years beginning after Dec. 31, 2017 and before Jan. 1, 2026, the Act increases the AMT exemption amounts for individuals as follows:
. . . For joint returns and surviving spouses, $111,700
. . . For single taxpayers, $71,700
. . . For marrieds filing separately, $55,850.