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The Inflation Reduction Act signed into law in August of last year provided a few new tax breaks that filers could take advantage of in the 2022 tax year. Increased credit for solar energy products
On Tuesday the IRS announced its annual adjustments to the standard deduction and tax brackets for the 2023 tax year. They are a considerable increase over 2022. ... In other words, you pay 2022 ...
The 401(k) contribution limit alone will increase by almost 10% from 2022 to 2023. ... Individual Benefits in the Inflation Reduction Act. Speaking about 2023 tax changes that clients may miss, ...
Inflation Reduction Act of 2022; ... not generally believed to have reduced inflation in 2022 and 2023, ... Department had found that in the 2023 tax year, 3.4 ...
The standard deduction for married couples filing jointly for tax year 2023 rises to $27,700, up $1,800 from 2022. ... in 2022. The tax year 2023 maximum Earned Income Tax Credit amount is $7,430 ...
As for the annual gift tax exclusion – the amount of tax-free money you can give to another person in 2023 – is $17,000 (up from $16,000 in 2022). If a gift exceeds $17,000 in 2023, the excess ...
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