Standard personal income tax deductions as a tool support for families with children

The article reveals the significant role of the personal income tax due to its revenue potential for the budget system of the Russian Federation and the regulatory impact on socio-economic processes in the context of geopolitical tension. The relevance of the conducted research lies in the consideration of the content of the elements of the personal income tax - tax rates and standard tax deductions, through which its social and fiscal functions are realized. The expediency of increasing the amount of the current standard tax deductions for all categories of taxpayers of personal income tax to the minimum subsistence level, which depends on the socio-demographic group of the payer: the able-bodied population, pensioners and children, is substantiated. The exclusion of income required by the taxpayer to meet their minimum living needs, as well as family members, when calculating the tax base will have a positive impact on family support. This process is proposed to be carried out sequentially, in 3 stages, taking into account the results of the ongoing socio-economic policy.