District of Columbia discusses increases in standard deduction

The District of Columbia’s Office of the Chief Financial Officer, after accounting for increases in the applicable cost of living indices, has upwardly revised the applicable standard deduction amounts and set the personal exemption amount. For the 2017 tax year, the standard deduction amount for single or married individual filers will be $5,250, for married joint filers will be $8,450, and for head of household filers will be $6,550 (for the 2016 tax year, these amounts were $5,200 for single or married individual filers, $8,350 for married joint filers, and $6,500 for head of household filers). The personal exemption amount remains $1,775. (Notice, District of Columbia Office of the Chief Financial Officer, September 16, 2016.)

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