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Stay updated on the news about taxes, deadlines, deductions, laws, the IRS, and all things related to your income taxes.
Every year brings something new to U.S income taxes, and 2023 will be no different. Typically, federal income tax brackets and standard deduction amounts are among the items adjusted annually for...
The standard deduction is rising 6.9% or 7.2%, depending on filing status, while the Earned Income Tax Credit amount will increase by 7.1%, the Internal Revenue Service announced this week.
As Tax Day nears, here are five important updates from the IRS. Steer Clear of Shady Tax Preparers On March 27, 2023, the IRS put out a news release as part of its Dirty Dozen series.
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The Urban-Brookings Tax Policy Center, [2] [3] [4] typically shortened to the Tax Policy Center (TPC), is a nonpartisan [5] think tank based in Washington D.C., United States. [6] A joint venture of the Urban Institute and the Brookings Institution , it aims to provide independent analyses of current and longer-term tax issues, and to ...
The Alternative Minimum Tax exemption amount for tax year 2023 is $81,300 for individual taxpayers and begins to phase out at $578,150. Those numbers are up from $75,900 and $539,900, respectively ...
Individual income tax: $1,608.7 Corporate income tax: $211.8 Social Security and other payroll tax: $1,310.0 Excise tax: $86.8 Estate and gift taxes: $17.6 Customs duties: $68.6 Other miscellaneous receipts $117.7 Total: $3,421.2