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any tax people want to help me?
Our discussion this week is about the standard deductions and I can't find anything on google or wiki concerning why we are given it and who determines how much it is...It's probably right under my nose but I can't find it
tia
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Re: any tax people want to help me?
I didn't read through all of it - but here's the info from the IRS site.
link
I think wiki does a pretty good job of explaining it how the amount is determined. Why we are given it....I doubt you'll ever find the "real" answer....it's the gov't.....trust me, nothing makes sense in the way the gov't does business!
https://en.wikipedia.org/wiki/Standard_deduction