2017 form 2220-2025

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The lifetime gift/estate tax exemption was $5.49 million in 2017. The lifetime gift/estate tax exemption was $11.18 million in 2018. The lifetime gift/estate tax exemption was $11.4 million in 2019. The lifetime gift/estate tax exemption was $11.58 million in 2020.
Use Form 2210 to see if you owe a penalty for underpaying your estimated tax. The IRS will generally figure your penalty for you and you should not file Form 2210. You can, however, use Form 2210 to figure your penalty if you wish and include the penalty on your return.
You can compare these numbers against the 2016 brackets here. For 2017, the additional standard deduction amount for the aged or the blind is $1,250. The additional standard deduction amount is increased to $1,550 if the individual is also unmarried and not a surviving spouse.
In the 2017 tax year, the exemption typically resulted in a $4,050 reduction of taxable income for each one you qualified for. For a family that qualified for four exemptions, the total reduction of taxable income ended up being $16,200. Starting in the tax year 2018, you could no longer claim personal exemptions.
For the 2017 tax year, the personal exemption was $4,050 per person. From 2018 through 2025, there is no personal exemption.
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personal and dependent exemptions remain $4,050. the Standard Deduction rises to $6,350 for Single, $9,350 for Head of Household, and $12,700 for Married Filing Jointly. the maximum earned income tax credit rises to $6,318.
For example, in 2017, the standard deduction was $12,700 for a married couple filing jointly, $6,350 for a single or married filing separately filer, and $9,350 for a head of household; each personal exemption was $4,050.
Corporations, tax-exempt organizations subject to the unrelated business income tax, and private foundations use Form 2220 to determine: Whether they are subject to the penalty for underpayment of estimated tax and, if so, The amount of the underpayment penalty for the period that applies.

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