Final answer:
No, only one additional standard deduction is allowed for individuals who are age 65 or older or blind, not two.
Step-by-step explanation:
The question is asking whether it is true or false that two additional standard deductions are allowed for a taxpayer who is age 65 or over and blind. In order to answer this question, we need to understand what a standard deduction is and how it is affected by age and blindness.
A standard deduction is a fixed amount that reduces a taxpayer's taxable income. For the 2021 tax year, the standard deduction for individuals is $12,550 for single or married filing separately status, and $25,100 for married filing jointly or qualifying widow(er) status.
According to the IRS, additional standard deductions are available for elderly and blind taxpayers. For individuals who are age 65 or older or blind, they are able to claim an additional standard deduction amount. This means that they are eligible for a higher standard deduction, reducing their taxable income further. However, the question specifically asks about two additional standard deductions. This statement is false as only one additional standard deduction is allowed for individuals who are age 65 or older or blind, not two.