IRS Tax Code - Search Videos

IRS Raises 2023 Standard Deduction, Tax Brackets Due to Inflation

The IRS on Tuesday released annual inflation adjustments to key aspects of the tax code that will apply for the 2023 tax year. The adjustments, included in Revenue Procedure 2022-38, will generally apply to the tax returns that people will file in 2024, and reflect the fact that inflation has been high over the past year. The standard deduction ...

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