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The standard deduction is really a flat reduction in the altered gross revenue, the amount based on Congress and meant to help keep up with inflation. Virtually 90% of filers choose it, since it helps make the tax-prep system rapid and straightforward
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Tax dependent: A tax dependent can be a qualifying little one or relative whose distinct romance to your taxpayer lets them to be claimed on that individual's tax return. The IRS has numerous principles which can help taxpayers figure out whether or not somebody is a dependent.
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