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).
Tax exemptions reduce your adjusted gross income, ensuring that not all of your income is taxed. Your total exemptions, along with your standard deduction or itemized deductions, are subtracted from your adjusted gross income to figure your taxable income. What Types of Exemptions Are Available? You can claim personal exemptions and dependent exemptions. Each tax exemption is worth $4,050 for Tax Year 2017. How Many Tax Exemptions Can I Claim? Generally, you can claim one personal tax exemption for yourself and one for your spouse if you are married. You can also claim one tax exemption for each person who qualifies as your dependent, but your spouse is never considered your dependent.