comment on post: This year the standard deduction increases $13,850 for single filers, $20,800 for head of household, and $27,700 for married couples filing jointly. In 2022, the standard deduction was $12,950 for single filers, $19,400 for head of household, and $25,900 for married couples filing jointly. This is a great benefit for the taxpayer because it helps keep more money in their pockets. For instance, a tax deduction helps decrease the income You're being taxed. Additionally, this year the tax brackets increased as well. This is a great benefit for taxpayers who are inflation-affected. In 2009, The American Opportunity Tax Credit was enforced. This law allows relief of a $2,500 tax credit for students pursuing a college education