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IRS Inflation Adjustments Mean Lower Taxes for Some in 2023

1040 taxes for some in 2023 will be lower
Taxes for some in 2023 will be lower. (MGN)

Washington, D.C.-(ENEWSPF)- Worldwide inflation will benefit some who will see a lower tax rate for 2023.

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The Internal Revenue Service today announced the tax year 2023 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2022-38 provides details about these annual adjustments.

Here are the specifics:

New for 2023

The Inflation Reduction…

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