2022 Standard Federal Tax Reporter (CCH) Committee Report on P.L. 115-97 (Tax Cuts and Jobs Act), Congress (United States)

Summary

• Committee Report: Standard Federal Tax Reporter (2022), Committee Report on P.L. 115-97 (Tax Cuts and Jobs Act)

  .0178 Temporary repeal of deduction for personal exemptions. -

  The House bill repeals the deduction for personal exemptions.

  The provision modifies the requirements for those who are required to file a tax return. In the case of an individual who is not married, such individual is required to file a tax return if the taxpayer's gross income for the taxable year exceeds the applicable standard deduction. Married individuals are required to file a return if that individual's gross income, when combined with the individual's spouse's gross income, for the taxable year is more than the standard deduction applicable to a joint return, provided that: (i) such individual and his spouse, at the close of the taxable year, had the same household as their home; (ii) the individual's spouse does not make a separate return; and (iii) neither the individual nor his spouse is a dependent of ...