The IRS is increasing the standard deduction and tax bracket limits amid inflation.
To help you keep up with soaring inflation, the IRS is making bigger changes than usual that could save you big money on your 2023 taxes, which is the tax return you'll file in 2024.The first big change is that the standard deduction is going up from $12,950 to $13,850 for individuals. That's $900 more.
The IRS is also raising income limits 7% on all tax brackets before you'll have to pay a higher tax rate. Millions of people may still be eligible for COVID-19 stimulus checks, but the deadline is coming up Married couples earning $200,000 in both 2022 and 2023 will actually pay $900 less on their 2023 taxes.Seeking to represent more than a million residents in Harris County Precinct 4 Republican Jack Cagle and Democratic challenger Lesly Briones squared off in the public square - with the incumbent proudly defending his quorum busting decision to vote with his feet against higher taxes and spending.
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