2023 Publication 501 - Dependents, Standard Deduction, and Filing Information

The purpose of IRS Publication 501, titled "Dependents, Standard Deduction, and Filing Information is to provide information to taxpayers about claiming dependents on their tax returns, the standard deduction, and information. The publication explains the requirements for claiming someone as a dependent, the amount of the standard deduction based on filing status and other factors, and the different filing status options available to taxpayers. It also covers tax-exempt income and the tax implications of being claimed as a dependent on someone else's tax return. The publication is intended to help taxpayers understand their tax obligations and take advantage of any available tax benefits.