Soaring inflation may mean lower tax bills for some as IRS raises brackets
Published Date: 10/20/2022
Source: 6abc Philadelphia
Some Americans may have lower tax bills when they file for 2023 after the IRS adjusted tax brackets and increased deductions to counter the soaring price tags on groceries and other daily staples. Tax brackets will increase by about 7% in an attempt to counter rapid inflation, the IRS said in a statement on Tuesday. #irs #taxday https://6abc.com/new-tax-brackets-2023-inflation-causes-irs-to-raise-standard-deduction-adjustments/12345803/