Paychecks could get a bump due to IRS inflation adjustments
Paychecks could get a bump due to IRS inflation adjustments
(NEXSTAR) – Millions of Americans could take home more pay in 2023 thanks to inflation adjustments to the tax code announced by the IRS Tuesday.
Among the dozens of changes prompted by the soaring costs of food, rent, gasoline and other items, the IRS is hiking the standard deduction for tax year 2023 by roughly 7 percent.
The standard deduction – which reduces the amount of income on which…
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