Taxes
Tax Changes Mean You Might Take Home More of Your Paycheck
Everything you need to know about the annual inflation adjustments to taxes in 2023, according to experts.
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The Internal Revenue Service has raised tax brackets and the standard deduction by about 7% for 2023 as the soaring cost of food, energy and housing continues to batter Americans.
That’s the largest increase to the standard deduction since the tax system was first indexed to inflation in 1985, and will reduce the amount of income subject to taxes for most people.