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IRS says tax brackets will be higher in 2022 due to surging inflation
By Kelsi Thorud, WESH
IRS says tax brackets will be higher in 2022 due to surging inflation
MICHELLE: BECAUSE OF SURGING CONSUMER PRICES, THE IRS JUST ANNOUNCED ADJUSTMENTS TO FEDERAL INCOME BRACKETS. WESH 2맥스카지노S KELSI THORUD SPOKE WITH A FINANCIAL PLANNER ABOUT WHAT YOU NEED TO BE AWA ORE KELSI: 2022맥스카지노S INCOME TAX BRKEACTS WILL BE HIGHER. THE IRS MAKING THE ANNOUNCEMENT THIS WEEK. THEY MOVED IT BY 6.2 %.HEY MOVED IT BY 6.2
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IRS says tax brackets will be higher in 2022 due to surging inflation
By Kelsi Thorud, WESH
The IRS announced this week that 2022's income tax brackets will be higher."They moved it by 6.2%," Joe Bert, a Central Florida certified financial planner, said.Bert noted that 6.2% is a significant jump."Generally, the tax bracket adjustments are only one maybe 2% per year," Bert said.The reason behind the larger adjustment is the recent spike in inflation, he said."With the increase we've had in inflation, Social Security's adjusted and the tax brackets adjusted. There's supposed to be an index for inflation and that's what happened,맥스카지노 Bert said.Bert said it could save some money in 2023."If your income hasn't changed much, you're probably going to pay a little less in taxes,맥스카지노 Bert said.The IRS is also increasing the standard deduction. It will increase to $25,900 for married couples filing together, $12,950 for single taxpayers and $19,400 for heads of household.The changes will apply to 2022 tax returns which are not filed until 2023.
ORLANDO, Fla. —

The IRS announced this week that 2022's income tax brackets will be higher.

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"They moved it by 6.2%," Joe Bert, a Central Florida certified financial planner, said.

Bert noted that 6.2% is a significant jump.

"Generally, the tax bracket adjustments are only one maybe 2% per year," Bert said.

The reason behind the larger adjustment is the recent spike in inflation, he said.

"With the increase we've had in inflation, Social Security's adjusted and the tax brackets adjusted. There's supposed to be an index for inflation and that's what happened,맥스카지노 Bert said.

Bert said it could save some money in 2023.

"If your income hasn't changed much, you're probably going to pay a little less in taxes,맥스카지노 Bert said.

The IRS is also increasing the standard deduction. It will increase to $25,900 for married couples filing together, $12,950 for single taxpayers and $19,400 for heads of household.

The changes will apply to 2022 tax returns which are not filed until 2023.