US Standard Deduction Questions
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:
Does anyone know where I can look up whether an employee has taken itemised deductions in Oracle?