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Tax season 2025: Itemize or take the standard deduction?
- Tax deductions can help taxpayers keep more money, offering two options: standard deduction or itemized deductions with proof of expenses.
- For tax year 2024, the standard deduction amounts are $14,600 for single filers and $29,200 for married couples filing jointly.
- According to the National Consumer Unit, only about 9% of filers itemized their returns for tax year 2022.
- Detailed records are essential if choosing to itemize, as the IRS can audit returns within three years or six years for substantial errors.
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aftenbladet.noReposted by 
bt.no
bt.noParty leader of the Christian Democratic Party (KrF), Dag Inge Ulstein, wants to give parents with one and two children 50,000 kroner in tax deductions, and 100,000 kroner less if they have three children.
The Christian Democratic Party wants to use large tax deductions to encourage Norwegians to have more children. Party leader Dag Inge Ulstein proposes a tax deduction of up to 200,000 kroner for parents of three children.
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Total News Sources19
Leaning Left0Leaning Right0Center14Last UpdatedBias Distribution100% Center
Bias Distribution
- 100% of the sources are Center
100% Center
C 100%
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