Why Must File Past Years Taxes Online: Difference between revisions
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Revision as of 05:06, 22 September 2026
The IRS has set many tax deductions and benefits in place for citizens. Unfortunately, some taxpayers who earn a high level of income can see these benefits phased out as their income climbs. A personal exemption reduces your taxable income so you find yourself paying lower taxes. You most likely are even luckier if the exemption brings you a new lower income tax bracket. For the year 2010 it is $3650 per person, similar to last year's amount.
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