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3. Standard Deductions are Higher in 2018

The standard deduction amount for all individuals will be higher than it was in 2017. When compared with the previous year's deductions, amounts have nearly doubled. This increase will most greatly benefit couples filing jointly and individual filers. Married couples will receive a $24,000 deduction, and single filers can claim a $12,000 deduction.

raise 2018 income tax changes

tvirbickis / Getty Images

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