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IRS 1040-EZ 2023 Form for Surprise Arizona: What You Should Know

Income Tax Year 2023 Form 1040­­ — IRS Mar 8, 2023 — Do not file your tax return by Feb 1, 2022.  Filing Deadlines for Certain Income Tax Year 2022 A. If Your Annual income or net earnings are above the poverty line for your area, then you may not have to file your tax return. B. If your Annual income or net earnings are below the poverty line for your area, then you may not have to file your tax return. To calculate the amount of income and/or net earnings that are below the poverty line, you must use the Supplemental Poverty Income line. C. For Form 1040-ES and Form 1040­­­­-ESP, you must file on that date. If you are unable to meet you must file by the regular filing date.  E. Form 1040­­­-ES, Form 1040­­-ESP, Form 2439-B and Form 2439-C also include a box to indicate that you qualify for additional exemptions, which are not included on Form 1040­­-ES or Form 1040­­-ESP. You can take this optional exemption and reduce the amount of reported Form 1040­­-ES or Form 1040­­-ESP that you must file. Be sure to complete and attach Form 4868 to your return to provide more information.  Currency Exchange Rate for Tax Year 2022 The current exchange rate for the Euro is: 1 Euro = 1.1705 U.S. Dollars Federal Tax Reform for Inflation and Other Changes Oct 29, 2023 -- For inflation, the table below provides information on how these changes will affect federal tax. The standard deduction will increase from the 2023 level of 6,350 to the actual amount that is deductible in the year that is subject to inflation. The child tax credit is unchanged. The standard deduction is indexed to inflation and will increase from 6,350 to the actual amount that is deductible in inflation-adjusted dollars. The new standard deduction will apply to personal exemptions for the 2023 tax year. Note that personal exemptions and dependency exemptions for the 2023 tax year will not change. The Personal Exemption Phaseout is increased from 1,500 to 1,975.

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