I file a 1040A. I only have a W-2, and I have no dependents. Will my taxes go down?
It is possible. The standard deduction has been increased to $12,000 individuals, $18,000 for heads of household and $24,000 for married couples filing jointly and surviving spouses. Also, an additional standard deduction amount for the elderly or the blind is $1,300. However, the exemption amount for all categories, that was allowed in past years, has been eliminated.