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Personal Exemptions

Personal Exemptions

Definition: Personal exemption was amount per person that prior to Janaury1, 2018, a US resident taxpayer was allowed to subtract from his or her income before calculating income taxes.

For tax years beginning after December 31, 2017 and before January 1, 2026, personal exemption deductions have been repealed.

 

Zaher Fallahi, Tax Attorney, CPA, is a Tax Controversy Attorney, and defends taxpayers in resolving their Income Tax and Offshore Accounts (FBAR and FATCA) problems. Telephones: (310) 719-1040 (Los Angeles), (714) 546-4272 (Orange County), e-mail [email protected]