Quote:
Originally Posted by Lottoguy
I didn't realize the big change the IRS made to the standard deduction for 2021. Because of that my refund was three times the normal amount. In 2022 tax year the standard deduction will be reduced by about $1,700.
Were you also surprised by your refund too?
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Did you or a spouse turn 65 between tax year filing of 2020 and 2021. That would account for your surprise. There are increased standard deductions for seniors incorporated in the recent past. Google IRS publication 501 and you will find the standard deduction tables by filing status and age.