Areas of Practice: City-wide legal services to low-wage and immigrant workers. The Project handles employment matters in federal and state courts, the U.S. Equal Employment Opportunity Commission, the U.S. Department of Justice, and the New York City Commission on Human Rights.
Personal exemptions for both taxpayers and dependents provide that only a personâs income above some defined basic level is subject to tax. This helps ensure that the poorest households are not subject to the income tax. In 2016, the personal exemption is $4,050. In 2013, tax filers reported $9.1 trillion in adjusted gross income (AGI) and claimed $1.1 trillion in personal exemptions (although, as explained below, not all exemptions could be fully utilized to reduce tax liability).
An exemption is an amount of money you can subtract from your Adjusted Gross Income, just for having dependents. Personal and dependent exemptions for yourself and qualifying family members reduce the amount of income on which you will be taxed.