Examlex
The above table is an example of a(n) ________.
Standard Deduction
A fixed dollar amount that reduces the income on which you are taxed, an alternative to itemizing deductions, varies based on filing status.
Tax Year
The 12-month period for which tax is calculated and paid. It can be a calendar year or a fiscal year.
Filing Joint Return
The tax filing status used by married couples who choose to combine their income and report it on one tax return.
Qualifying Widow(er)
A tax filing status available to a widowed individual with dependents, providing eligibility for standard deduction and tax rates that are more favorable for a specific period following the spouse's death.
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