By Jenny Willis, Supervising Senior Accountant
Tax Year 2022 Key Amounts
Standard Deduction
– Married filing jointly — $25,900
– Married filing separately — $12,950
– Head of household — $19,400
– Single — $12,950
Child Tax Credit (fully refundable)
– Children ages 5 and under: $3,600
– Children ages 6 through 17: $3,000
– Other Dependents: $500 (nonrefundable credit)
Gift Tax Exclusion — $16,000
401(k) Contribution — $20,500
– Age 50 and older catch‐up — $6,500
Standard Mileage Rates (2022 rates)
– Business 58.5¢ per mile
– Medical or moving 18¢ per mile
– Charitable 14¢ per mile (unchanged)
Health Savings Accounts (HSA)
– Individual contribution limit $3,650
– Family contribution limit $7,300
– Additional $1,000, if age 55 or older
IRA (Traditional & Roth)
– Maximum contribution — $6,000
– Age 50 and older catch‐up — $1,000
NYSSUI Wage Base – $12,000
Social Security Wage Base – $147,000
Tax Filing Deadlines
– Form 1040 ‐ Individuals due 4/15/22
– Form 1041 ‐ Trusts due 4/15/22
– Form 1120 ‐ C‐Corporations due 4/15/22
– Form 1120S ‐ S‐Corporations due 3/15/22
– Form 1065 ‐ Partnerships due 3/15/22
