What tax changes are coming in 2023?
For single taxpayers and married individuals filing separately, the standard deduction rises to $13,850 for 2023, up $900, and for heads of households, the standard deduction will be $20,800 for tax year 2023, up $1,400 from the amount for tax year 2022. Please refer to the table below for more information on your 2023 taxes.
2023 SINGLE INDIVIDUALS
2023 MARRIED INDIVIDUALS
2023 MARRIED FILING SEPARATELY
2023 HEADS OF HOUSEHOLDS
2023 STANDARD DEDUCTIONS
2023 ALTERNATIVE MINIMUM TAX (AMT) EXEMPTIONS, PHASE OUTS & RATES
2023 CHILD TAX CREDIT