Tax Brackets and Federal Income Tax Rates: 2022-2023 - NerdWallet (2023)

There are seven federal tax brackets for the 2022 tax year: 10%, 12%, 22%, 24%, 32%, 35% and 37%. Your bracket depends on your taxable income and filing status.

2022 federal income tax brackets

(for taxes due in April 2023)

Single filers

Tax rate

Taxable income bracket

Tax owed

10%

$0 to $10,275.

10% of taxable income.

12%

$10,276 to $41,775.

$1,027.50 plus 12% of the amount over $10,275.

22%

$41,776 to $89,075.

$4,807.50 plus 22% of the amount over $41,775.

24%

$89,076 to $170,050.

$15,213.50 plus 24% of the amount over $89,075.

32%

$170,051 to $215,950.

$34,647.50 plus 32% of the amount over $170,050.

35%

$215,951 to $539,900.

$49,335.50 plus 35% of the amount over $215,950.

37%

$539,901 or more.

$162,718 plus 37% of the amount over $539,900.

Married, filing jointly

Tax rate

Taxable income bracket

Taxes owed

10%

$0 to $20,550.

10% of taxable income.

12%

$20,551 to $83,550.

$2,055 plus 12% of the amount over $20,550.

22%

$83,551 to $178,150.

$9,615 plus 22% of the amount over $83,550.

24%

$178,151 to $340,100.

$30,427 plus 24% of the amount over $178,150.

32%

$340,101 to $431,900.

$69,295 plus 32% of the amount over $340,100.

35%

$431,901 to $647,850.

$98,671 plus 35% of the amount over $431,900.

37%

$647,851 or more.

$174,253.50 plus 37% of the amount over $647,850.

Married, filing separately

Tax rate

Taxable income bracket

Taxes owed

10%

$0 to $10,275.

10% of taxable income.

12%

$10,276 to $41,775.

$1,027.50 plus 12% of the amount over $10,275.

22%

$41,776 to $89,075.

$4,807.50 plus 22% of the amount over $41,775.

24%

$89,076 to $170,050.

$15,213.50 plus 24% of the amount over $89,075.

32%

$170,051 to $215,950.

$34,647.50 plus 32% of the amount over $170,050.

35%

$215,951 to $323,925.

$49,335.50 plus 35% of the amount over $215,950.

37%

$323,926 or more.

$87,126.75 plus 37% of the amount over $323,925.

Head of household

Tax rate

Taxable income bracket

Tax owed

10%

$0 to $14,650.

10% of taxable income.

12%

$14,651 to $55,900.

$1,465 plus 12% of the amount over $14,650.

22%

$55,901 to $89,050.

$6,415 plus 22% of the amount over $55,900.

24%

$89,051 to $170,050.

$13,708 plus 24% of the amount over $89,050.

32%

$170,051 to $215,950.

$33,148 plus 32% of the amount over $170,050.

35%

$215,951 to $539,900.

$47,836 plus 35% of the amount over $215,950.

37%

$539,901 or more.

$161,218.50 plus 37% of the amount over $539,900.

2023 federal income tax brackets

(for taxes due in April 2024)

Expand the filing status that applies to you.

Single filers

Tax rate

Taxable income bracket

Tax owed

10%

$0 to $11,000.

10% of taxable income.

12%

$11,001 to $44,725.

$1,100 plus 12% of the amount over $11,000.

22%

$44,726 to $95,375.

$5,147 plus 22% of the amount over $44,725.

24%

$95,376 to $182,100.

$16,290 plus 24% of the amount over $95,375.

32%

$182,101 to $231,250.

$37,104 plus 32% of the amount over $182,100.

35%

$231,251 to $578,125.

$52,832 plus 35% of the amount over $231,250.

37%

$578,126 or more.

$174,238.25 plus 37% of the amount over $578,125.

Married, filing jointly

Tax rate

Taxable income bracket

Taxes owed

10%

$0 to $22,000.

10% of taxable income.

12%

$22,001 to $89,450.

$2,200 plus 12% of the amount over $22,000.

22%

$89,451 to $190,750.

$10,294 plus 22% of the amount over $89,450.

24%

$190,751 to $364,200.

$32,580 plus 24% of the amount over $190,750.

32%

$364,201 to $462,500.

$74,208 plus 32% of the amount over $364,200.

35%

$462,501 to $693,750.

$105,664 plus 35% of the amount over $462,500.

37%

$693,751 or more.

$186,601.50 + 37% of the amount over $693,750.

Married, filing separately

Tax rate

Taxable income bracket

Taxes owed

10%

$0 to $11,000.

10% of taxable income.

12%

$11,001 to $44,725.

$1,100 plus 12% of the amount over $11,000.

22%

$44,726 to $95,375.

$5,147 plus 22% of the amount over $44,725.

24%

$95,376 to $182,100.

$16,290 plus 24% of the amount over $95,375.

32%

$182,101 to $231,250.

$37,104 plus 32% of the amount over $182,100.

35%

$231,251 to $346,875.

$52,832 plus 35% of the amount over $231,250.

37%

$346,876 or more.

$93,300.75 plus 37% of the amount over $346,875.

Head of household

Tax rate

Taxable income bracket

Tax owed

10%

$0 to $15,700.

10% of taxable income.

12%

$15,701 to $59,850.

$1,570 plus 12% of the amount over $15,700.

22%

$59,851 to $95,350.

$6,868 plus 22% of the amount over $59,850.

24%

$95,351 to $182,100.

$14,678 plus 24% of the amount over $95,350.

32%

$182,101 to $231,250.

$35,498 plus 32% of the amount over $182,100.

35%

$231,251 to $578,100.

$51,226 plus 35% of the amount over $231,250.

37%

$578,101 or more.

$172,623.50 plus 37% of the amount over $578,100.

(Video) Calculating Your US Federal Income Tax with Microsoft Excel Using Progressive Tax Brackets

» Learn more: How to track the status of your federal and state refunds

How tax brackets work

The United States has a progressive tax system, meaning people with higher taxable incomes pay higher federal income tax rates.

  • Being "in" a tax bracket doesn't mean you pay that federal income tax rate on everything you make. The progressive tax system means that people with higher taxable incomes are subject to higher federal income tax rates, and people with lower taxable incomes are subject to lower federal income tax rates.

  • The government decides how much tax you owe by dividing your taxable income into chunks — also known as tax brackets — and each chunk gets taxed at the corresponding tax rate. The beauty of this is that no matter which bracket you’re in, you won’t pay that tax rate on your entire income.

  • The percentage of your taxable income that you pay in taxes is called your effective tax rate. To determine effective tax rate, divide your total tax owed (line 16) on Form 1040 by your total taxable income (line 15).

    (Video) Calculating Your US Federal Income Tax with Microsoft Access Using Progressive Tax Brackets

  • Income thresholds for tax brackets are updated annually. Several provisions in the tax code, including the income thresholds that inform the federal tax brackets, are adjusted annually to reflect the rate of inflation. This indexing aims to prevent taxpayers from experiencing "bracket creep," or the process of being pushed into a higher tax bracket because of inflation.

Example #1: Let’s say you’re a single filer with $32,000 in taxable income. That puts you in the 12% tax bracket in 2022. But do you pay 12% on all $32,000? No. Actually, you pay only 10% on the first $10,275; you pay 12% on the rest. (Look at the tax brackets above to see the breakout.)

Example #2: If you had $50,000 of taxable income, you’d pay 10% on that first $10,275 and 12% on the chunk of income between $10,276 and $41,775. And then you’d pay 22% on the rest because some of your $50,000 of taxable income falls into the 22% tax bracket. The total bill would be about $6,600 — about 13% of your taxable income, even though you're in the 22% bracket. That 13% is your effective tax rate.

  • That's the deal only for federal income taxes. Your state might have different brackets, a flat income tax or no income tax at all.

» Learn more: See state income tax brackets here

What is a marginal tax rate?

The term "marginal tax rate" refers to the tax rate paid on your last dollar of taxable income. This typically equates to your highest tax bracket.

For example, if you're a single filer with $35,000 of taxable income, you would be in the 12% tax bracket. If your taxable income went up by $1, you would pay 12% on that extra dollar too.

If you had $46,000 of taxable income, however, most of it would still fall within the 12% bracket, but the last few hundred dollars would land in the 22% tax bracket. Your marginal tax rate would then be 22%.

How to get into a lower tax bracket and pay a lower federal income tax rate

Two common ways of reducing your tax bill are credits and deductions.

  • Tax credits can reduce your tax bill on a dollar-for-dollar basis; they don't affect what bracket you're in.

  • Tax deductions, on the other hand, reduce how much of your income is subject to taxes. Generally, deductions lower your taxable income by the percentage of your highest federal income tax bracket. So if you fall into the 22% tax bracket, a $1,000 deduction could save you $220.

In other words: Take all the tax deductions you can claim — they can reduce your taxable income and could kick you to a lower bracket, which means you pay a lower tax rate.

» Learn more: See the difference between tax credits and tax deductions

Tax tools

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  • Compare the best tax software

More tax stories

  • Learn about capital gains taxes

  • Fill out your W-4 the right way

  • How does the AMT work?

Tax Brackets and Federal Income Tax Rates: 2022-2023 - NerdWallet (3)

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Past years' tax brackets

Curious how federal income tax brackets and rates have changed over the years? Take a look back.

2021 tax brackets and rates

Tax rate

Single

Married, filing jointly

Married, filing separately

Head of household

10%

$0 to $9,950

$0 to $19,900

$0 to $9,950

$0 to $14,200

12%

$9,951 to $40,525

$19,901 to $81,050

$9,951 to $40,525

$14,201 to $54,200

22%

$40,526 to $86,375

$81,051 to $172,750

$40,526 to $86,375

$54,201 to $86,350

24%

$86,376 to $164,925

$172,751 to $329,850

$86,376 to $164,925

$86,351 to $164,900

32%

$164,926 to $209,425

$329,851 to $418,850

$164,926 to $209,425

$164,901 to $209,400

35%

$209,426 to $523,600

$418,851 to $628,300

$209,426 to $314,150

$209,401 to $523,600

37%

$523,601 or more

$628,301 or more

$314,151 or more

$523,601 or more

(Video) Tax Bracket Explanation

2020 tax brackets and rates

Tax rate

Single

Married, filing jointly

Married, filing separately

Head of household

10%

$0 to $9,875

$0 to $19,750

$0 to $9,875

$0 to $14,100

12%

$9,876 to $40,125

$19,751 to $80,250

$9,876 to $40,125

$14,101 to $53,700

22%

$40,126 to $85,525

$80,251 to $171,050

$40,126 to $85,525

$53,701 to $85,500

24%

$85,526 to $163,300

$171,051 to $326,600

$85,526 to $163,300

$85,501 to $163,300

32%

$163,301 to $207,350

$326,601 to $414,700

$163,301 to $207,350

$163,301 to $207,350

35%

$207,351 to $518,400

$414,701 to $622,050

$207,351 to $311,025

$207,351 to $518,400

37%

$518,401 or more

$622,051 or more

$311,026 or more

$518,401 or more

2019 tax brackets and rates

2019 Federal Income Tax Brackets

Tax rate

Single

Married, filing jointly

Married, filing separately

Head of household

10%

$0 to $9,700

$0 to $19,400

$0 to $9,700

$0 to $13,850

12%

$9,701 to $39,475

$19,401 to $78,950

$9,701 to $39,475

$13,851 to $52,850

22%

$39,476 to $84,200

$78,951 to $168,400

$39,476 to $84,200

$52,851 to $84,200

24%

$84,201 to $160,725

$168,401 to $321,450

$84,201 to $160,725

$84,201 to $160,700

32%

$160,726 to $204,100

$321,451 to $408,200

$160,726 to $204,100

$160,701 to $204,100

35%

$204,101 to $510,300

$408,201 to $612,350

$204,101 to $306,175

$204,101 to $510,300

37%

$510,301 or more

$612,351 or more

$306,176 or more

$510,301 or more

2018 tax brackets and rates

2018 Federal Income Tax Brackets

Tax rate

Single

Married, filing jointly

Married, filing separately

Head of household

10%

$0 to $9,525

$0 to $19,050

$0 to $9,525

$0 to $13,600

12%

$9,526 to $38,700

$19,051 to $77,400

$9,526 to $38,700

$13,601 to $51,800

22%

$38,701 to $82,500

$77,401 to $165,000

$38,701 to $82,500

$51,801 to $82,500

24%

$82,501 to $157,500

$165,001 to $315,000

$82,501 to $157,500

$82,501 to $157,500

32%

$157,501 to $200,000

$315,001 to $400,000

$157,501 to $200,000

$157,501 to $200,000

35%

$200,001 to $500,000

$400,001 to $600,000

$200,001 to $300,000

$200,001 to $500,000

37%

$500,001 or more

$600,001 or more

$300,001 or more

$500,001 or more

2017 tax brackets and rates

2017 Federal Income Tax Brackets

Tax rate

Single

Married, filing jointly

Married, filing separately

Head of household

10%

$0 to $9,325

$0 to $18,650

$0 to $9,325

$0 to $13,350

15%

$9,326 to $37,950

$18,651 to $75,900

$9,326 to $37,950

$13,351 to $50,800

25%

$37,951 to $91,900

$75,901 to $153,100

$37,951 to $76,550

$50,801 to $131,200

28%

$91,901 to $191,650

$153,101 to $233,350

$76,551 to $116,675

$131,201 to $212,500

33%

$191,651 to $416,700

$233,351 to $416,700

$116,676 to $208,350

$212,501 to $416,700

35%

$416,701 to $418,400

$416,701 to $470,700

$208,351 to $235,350

$416,701 to $444,550

39.6%

$418,401 or more

$470,701 or more

$235,351 or more

$444,551 or more

2016 tax brackets and rates

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2016 Federal Income Tax Brackets

Tax rate

Single

Married, filing jointly

Married, filing separately

Head of household

10%

$0 to $9,275

$0 to $18,550

$0 to $9,275

$0 to $13,250

15%

$9,276 to $37,650

$18,550 to $75,300

$9,275 to $37,650

$13,250 to $50,400

25%

$37,650 to $91,150

$75,300 to $151,900

$37,650 to $75,950

$50,400 to $130,150

28%

$91,150 to $190,150

$151,900 to $231,450

$75,950 to $115,725

$130,150 to $210,800

33%

$190,150 to $413,350

$231,450 to $413,350

$115,725 to $206,675

$210,800 to $413,350

35%

$413,350 to $415,050

$413,350 to $466,950

$206,675 to $233,475

$413,350 to $441,000

39.6%

$415,050 or more

$466,950 or more

$233,475 or more

$441,000 or more

2015 tax brackets and rates

2015 Federal Income Tax Brackets

Tax rate

Single

Married, filing jointly

Married, filing separately

Head of household

10%

$0 to $9,225

$0 to $18,450

$0 to $9,225

$0 to $13,150

15%

$9,226 to $37,450

$18,451 to $74,900

$9,226 to $37,450

$13,151 to $50,200

25%

$37,451 to $90,750

$74,901 to $151,200

$37,451 to $75,600

$50,201 to $129,600

28%

$90,751 to $189,300

$151,201 to $230,450

$75,601 to $115,225

$129,601 to $209,850

33%

$189,301 to $411,500

$230,451 to $411,500

$115,226 to $205,750

$209,851 to $411,500

35%

$411,501 to $413,200

$411,501 to $464,850

$205,751 to $232,425

$411,501 to $439,000

39.6%

$413,201 or more

$464,851 or more

$232,426 or more

$439,001 or more

2014 tax brackets and rates

2014 Federal Income Tax Brackets

Tax rate

Single

Married, filing jointly

Married, filing separately

Head of household

10%

$0 to $9,075

$0 to $18,150

$0 to $9,075

$0 to $12,950

15%

$9,076 to $36,900

$18,151 to $73,800

$9,076 to $36,900

$12,951 to $49,400

25%

$36,901 to $89,350

$73,801 to $148,850

$36,901 to $74,425

$49,401 to $127,550

28%

$89,351 to $186,350

$148,851 to $226,850

$74,426 to $113,425

$127,551 to $206,600

33%

$186,351 to $405,100

$226,851 to $405,100

$113,426 to $202,550

$206,601 to $405,100

35%

$405,101 to $406,750

$405,101 to $457,600

$202,551 to $228,800

$405,101 to $432,200

39.6%

$406,751 or more

$457,601 or more

$228,801 or more

$432,201 or more

2013 tax brackets and rates

2013 Federal Income Tax Brackets

Tax rate

Single

Married, filing jointly

Married, filing separately

Head of household

10%

$0 to $8,925

$0 to $17,850

$0 to $8,925

$0 to $12,750

15%

$8,926 to $36,250

$17,851 to $72,500

$8,926 to $36,250

$12,751 to $48,600

25%

$36,251 to $87,850

$72,501 to $146,400

$36,251 to $73,200

$48,601 to $125,450

28%

$87,851 to $183,250

$146,401 to $223,050

$73,201 to $111,525

$125,451 to $203,150

33%

$183,251 to $398,350

$223,051 to $398,350

$111,526 to $199,175

$203,151 to $398,350

35%

$398,351 to $400,000

$398,351 to $450,000

$199,176 to $225,000

$398,351 to $425,000

39.6%

$400,001 or more

$450,001 or more

$225,001 or more

$425,001 or more

2012 tax brackets and rates

2012 Federal Income Tax Brackets

Tax rate

Single

Married, filing jointly

Married, filing separately

Head of household

10%

$0 to $8,700

$0 to $17,400

$0 to $8,700

$0 to $12,400

15%

$8,701 to $35,350

$17,401 to $70,700

$8,701 to $35,350

$12,401 to $47,350

25%

$35,351 to $85,650

$70,701 to $142,700

$35,351 to $71,350

$47,351 to $122,300

28%

$85,651 to $178,650

$142,701 to $217,450

$71,351 to $108,725

$122,301 to $198,050

33%

$178,651 to $388,350

$217,451 to $388,350

$108,726 to $194,175

$198,051 to $388,350

35%

$388,351 or more

$388,351 or more

$194,1756 or more

$388,351 or more

(Video) 2022 Small Business Stimulus Update - PPP, EIDL, ERC

FAQs

Will tax brackets change for 2023? ›

What are the tax brackets for 2023? The U.S. taxes income at progressively higher rates as you earn more. Those rates—ranging from 10% to 37%—will remain the same in 2023. What's changing is the amount of income that gets taxed at each rate.

What is the tax rate for 2023? ›

When it comes to federal income tax rates and brackets, the tax rates themselves aren't changing from 2022 to 2023. The same seven tax rates in effect for the 2022 tax year – 10%, 12%, 22%, 24%, 32%, 35% and 37% – still apply for 2023.

What are the current federal tax brackets for 2022? ›

There are seven tax brackets for most ordinary income for the 2022 tax year: 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent and 37 percent.

What is the standard deduction for seniors over 65 in 2023? ›

2023 Standard Deduction

Taxpayers who are at least 65 years old or blind can claim an additional standard deduction of $1,500 is allowed for 2023 ($1,850 if you're claiming the single or head of household filing status).

How much taxes do you pay if you make $120000? ›

If you make $120,000 a year living in the region of California, USA, you will be taxed $31,682. Your average tax rate is 16.51% and your marginal tax rate is 24%.

Is there a new w4 for 2023? ›

A draft of the 2023 Form W-4 was released Dec. 7 by the Internal Revenue Service. Changes in the draft primarily removed references to the IRS's tax withholding estimator at several points in the form and instructions. Amounts used in the Step 2(b) and Step 4(b) worksheets were also updated.

What is the EITC for 2023? ›

The earned income tax credit, also known as the EITC or EIC, is a refundable tax credit for low- and moderate-income workers. For the 2022 tax year, the earned income credit ranges from $560 to $6,935 depending on tax-filing status, income and number of children. In 2023, the credit will be worth $600 to $7,430.

Does Social Security count as income? ›

You must pay taxes on up to 85% of your Social Security benefits if you file a: Federal tax return as an “individual” and your “combined income” exceeds $25,000. Joint return, and you and your spouse have “combined income” of more than $32,000.

Are federal taxes going up in 2023? ›

The IRS is increasing the tax brackets by about 7% for both individual and married filers across the different income spectrums. The top tax rate remains 37% in 2023.

What is the higher rate tax threshold 2022 2023? ›

Income tax on income from paid employment or self-employed earnings is charged at three rates: the basic rate, the higher rate and the additional rate. For 2022/23 these three rates are 20%, 40% and 45% respectively. These rates remain unchanged from 2021/22, and will remain frozen for 2023/24.

Why is Tax Day April 18th in 2023? ›

For 2023, tax day falls on Tuesday, April 18. Tax day customarily falls on April 15. But in 2023 that date falls on a Saturday and the following Monday is Emancipation Day, which is recognized as a holiday in Washington, D.C. As a result, tax day has been pushed back until the following Tuesday.

What are the federal income tax rates? ›

The federal income tax rates remain unchanged for the 2022 tax year are 10%, 12%, 22%, 24%, 32%, 35% and 37%. The income thresholds for each bracket, though, are adjusted slightly every year for inflation. Read on for more about the federal income tax brackets for Tax Year 2022 (filed by April 17, 2023).

At what age is Social Security no longer taxed? ›

Social Security benefits may or may not be taxed after 62, depending in large part on other income earned. Those only receiving Social Security benefits do not have to pay federal income taxes. If receiving other income, you must compare your income to the IRS threshold to determine if your benefits are taxable.

Are income tax brackets based on gross income? ›

Taxable income starts with gross income, then certain allowable deductions are subtracted to arrive at the amount of income you're actually taxed on. Tax brackets and marginal tax rates are based on taxable income, not gross income.

Is there a different tax bracket for seniors? ›

There are no separate tax brackets for retirees, but when you retire you may end up in a higher or lower tax bracket depending on your retirement income, which will usually include social security payments, along with pension or retirement account payments.

Do you pay less federal tax when you turn 65? ›

Extra Standard Deduction for Seniors Over 65

When you turn 65, the IRS offers you a tax benefit in the form of a larger standard deduction. For example, a single 64-year-old taxpayer can claim a standard deduction of $12,950 on his or her 2022 tax return (it will be $13,850 for 2023 returns).

What is the federal personal exemption for over 65? ›

In addition, people in certain categories are entitled to additional personal exemptions. For example, on your 2021 federal income tax return: if you earned income from a job, you can claim up to $1,257. if you are over the age of 65, you can claim up to $7,713.

How much federal tax should I pay if I make 100000? ›

If you make $100,000 a year living in the region of California, USA, you will be taxed $29,959. That means that your net pay will be $70,041 per year, or $5,837 per month. Your average tax rate is 30.0% and your marginal tax rate is 42.6%.

How much taxes should I pay if I make 500000? ›

If you make $500,000 a year living in the region of California, USA, you will be taxed $206,070. Your average tax rate is 29.03% and your marginal tax rate is 35%. This marginal tax rate means that your immediate additional income will be taxed at this rate.

How much federal tax should I pay if I make 105000? ›

If you make $105,000 a year living in the region of California, USA, you will be taxed $32,088. That means that your net pay will be $72,912 per year, or $6,076 per month. Your average tax rate is 30.6% and your marginal tax rate is 42.6%.

What is the minimum income to file taxes in 2023? ›

$14,700. $25,900 if both spouses are under age 65. $27,300 if one spouse is under age 65 and one is 65 or older. $28,700 if both are 65 or older.

What states do not tax Social Security income? ›

States that don't tax any retirement benefits
  • Alaska.
  • Florida.
  • Nevada.
  • New Hampshire.
  • South Dakota.
  • Tennessee.
  • Texas.
  • Washington.
Dec 24, 2022

How much money can a 70 year old make without paying taxes? ›

If you are at least 65, unmarried, and receive $14,700 or more in non-exempt income in addition to your Social Security benefits, you typically must file a federal income tax return (tax year 2022).

What is the highest amount you can earn on Social Security? ›

The maximum benefit depends on the age you retire. For example, if you retire at full retirement age in 2022, your maximum benefit would be $3,345. However, if you retire at age 62 in 2022, your maximum benefit would be $2,364. If you retire at age 70 in 2022, your maximum benefit would be $4,194.

What is the maximum taxable income for Social Security for 2023? ›

We call this annual limit the contribution and benefit base. This amount is also commonly referred to as the taxable maximum. For earnings in 2023, this base is $160,200.

Do seniors on Social Security have to file taxes? ›

Some of you have to pay federal income taxes on your Social Security benefits. This usually happens only if you have other substantial income in addition to your benefits (such as wages, self-employment, interest, dividends and other taxable income that must be reported on your tax return).

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