Tax Deductions: Estimates of Taxpayers Who May Have Overpaid Federal Taxes by Not Itemizing

Abstract

When computing their federal taxes, taxpayers either claim a standard deduction or itemize deductions. These deductions are subtracted from adjusted gross income in determining taxable income. Taxpayers in general claim the type of deduction that is larger because that minimizes their taxable income. In recent years, approximately 70 percent of taxpayers have claimed the standard deduction, while the remaining 30 percent have itemized.

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Document Details

Document Type
Technical Report
Publication Date
Apr 01, 2001
Accession Number
ADA388955

Entities

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  • United States Government Accountability Office

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