The reason is simple: with older Los-Angeles-class fast-attack submarines (built between 1972 and 1996) retiring at a faster pace than Virginia subs are added, the U.S. Navy will face a shortfall in the number of active vessels in the near future.
The IRS says most taxpayers use the standard deduction. The standard deduction amount is different for each filing status and is higher for blind taxpayers and those who are age 65 or older. The amounts are also adjusted for inflation each year. 2016 tax return standard deductions
ing this lesson on standard deductions and the Itemized Deductions lesson, you will be able to subtract the. appropriate deduction from the taxpayersâ adjusted gross income to figure their taxable income. Some taxpayers may need to use the standard deduction worksheet in the. Form 1040 Instructions. Objectives. At the end of this lesson, using your resource materials, you will be able to: â¢ Determine the standard deduction amount for most taxpayers. â¢ Determine the standard deduction amount for taxpayers claimed as.