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US Standard Deduction Questions

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edited Feb 10, 2023 8:55AM in Payroll and Global Payroll Interface (GPI) 4 comments

Summary:

The standard deduction for taxpayers who do not itemize deductions on Form 1040, Schedule A, has increased. The standard deduction amounts for 2022 are:

Married Filing Jointly or Qualifying Widow(er) – $25,900 (increase of $800)

Head of Household – $19,400 (increase of $600)

Single or Married Filing Separately – $12,950 (increase of $400)

I have review the Latest Vertex Guide but itemize deductions part is not mentioned in FIT section.


IRS Website Link:

New tab (irs.gov)


Does anyone know where I can look up whether an employee has taken itemised deductions in Oracle?

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