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New Tax Law Changes Will Impact Everyone

Standard Deduction (Married Filing Jointly)

Engineer
Army Corps of Engineers
Tue Dec 7, 2004 8:27 AM

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The married filing jointly standard deduction will be $9,700 for 2004 tax returns, not $10,000 as article shows. Source of information is 2004 Form 1040 downloaded from irs.gov website.

Re: Standard Deduction (Married Filing Jointly)

HR Spec
NASA
Tue Dec 7, 2004 8:34 AM
I am not sure this is relevant but the article says the standard deduction will be $10,000 for 2005. The criticism of the article in the previous comment is that the deduction is $9700 for 2004. In other words, the article may be correct as it states it is for 2005, not 2004.

Re: Standard Deduction (Married Filing Jointly)

civil servant
US DOL
Tue Dec 7, 2004 9:53 AM
Please remember we file a year behind. So in effect the above individual is correct that in Jan 2005 we may only get $9,700 (for 2004) but then in Jan 2006 we may get the $10,000 as it would be for 2005 as the second individual indicated.

Re: Standard Deduction (Married Filing Jointly)

engineering technician
VHA
Tue Dec 7, 2004 10:32 AM
what I read in the last two comments/replies is: READ THE ARTICLE and mentally digest it!

Re: Standard Deduction (Married Filing Jointly)

Accountant
DFAS
Wed Dec 8, 2004 2:05 PM
The language of the Act states that the $10,000 standard deduction is for 2005. When stated this way, it never has nothing to do with when you would file your return (as US DOL civil servant stated above). Rather, this is a reference to the *tax year* for which the return is filed. So, the $10,000 standard deduction is for tax year 2005 and would be filed in 2006.

new tax change

LABOR
vet hospital VAMC
Tue Dec 7, 2004 12:30 PM

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great for marriage people, maybe
more people will get marry and stop living together

Marriage

Engineer
FAA
Wed Jan 5, 2005 2:50 PM

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I'd get married if I lived in Massachusetts. Or Canada

Re: Marriage

Analyst
USDA
Tue Jan 11, 2005 7:22 AM
WHAT????!!! Maybe you oughta explain, cause I dodn't get it!

new tax changes

nurseracthet
private
Fri Jan 14, 2005 11:31 PM

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Thanks this was informative and what i was looking for.

Total Comments: 9
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