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Form 8404 Illinois Cook: What You Should Know

OFFICE OF TAX RATES — Chicago The IRS issued a notice stating that the income tax rates may be different for individuals and corporations. Income Tax Rates,  2013 – 2026. For tax year 2025 to 2019, the standard tax rates for individual filers are: Tax Rates Standard Rate Married filing jointly or Qualified Widow(er) 8,912.00 For the Tax Year: 2018, 2017, 2017, 2016, 2015, 2014, 2013, 2012, 2011, 2010, 2009, 2008, 2007, 2006, 2005, 2004, 2003, 2002, 2025 and 2025 Tax Year: 2018, 2017, 2017, 2016, 2015, 2014, 2013, 2012, 2011, 2010, 2009, 2008, 2007, 2005, 2004, 2003, 2002, 2025 and 2000 Exemptions Exemptions Exemptions 2025 Tax Year: The individual and corporate exemptions for 2025 are the following: Deduction for mortgage interest deduction 25 12,000 The credit against the tax on the excess of modified adjusted gross income over standard deduction 50,000 32,000 The credit against the tax on the excess of excess qualifying tuition expenses over student loan interest 1,000 100,000 Tax Year: 2018, 2017, 2016, 2015, 2014, 2013, 2012, 2011, 2010, 2009, 2008, 2007, 2006, 2005, 2004, 2003, 2002, 2025 and 2025 The deduction for the student loan interest deduction has changed to a 100,000 limitation and an increase of 25 per student. No more than 100,000 is allowable as a deduction, and you cannot carry over an overpayment of a deduction into subsequent years. Exemptions 2025 Tax Year: The individual and corporate exemptions for 2025 are the following: Deduction for mortgage interest deduction 25 12,000 The credit against the tax on the excess of modified adjusted gross income over standard deduction 50,000 32,000 The credit against the tax on the excess of excess qualifying tuition expenses over student loan interest 1,000 100,000 The deduction for the student loan interest deduction has changed to a 100,000 limitation and an increase of 25 per student.

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