How much can a taxpayer save on taxes by applying a standard deduction of $13,850 with an effective tax rate of 22%?

To determine the tax savings from the standard deduction, you need to multiply the amount of the standard deduction by the taxpayer's effective tax rate. In this case, the standard deduction is $13,850, and the effective tax rate is 22%.

The calculation to find the tax savings would be:

Tax Savings = Standard Deduction × Effective Tax Rate

Tax Savings = $13,850 × 0.22

Tax Savings = $3,047

This result indicates that by applying the standard deduction, the taxpayer is able to reduce their taxable income, resulting in tax savings of approximately $3,047. This demonstrates how the standard deduction can effectively lower the amount a taxpayer owes.