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High inflation just pushed IRS deductions and tax rates higher — here’s how much, and when they kick in

Por: MarketWatch Business October 19, 2022

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Many tax code provisions — but not all — are indexed for inflation, so the announcements are a recurring event. But when inflation is persistently clinging to four-decade highs, these annual adjustments carry extra significance. “When inflation is persistently clinging to four-decade highs, these annual adjustments of approximately 7% for the standard deduction carry extra significance.” Start with the standard deduction, which is what... + full article



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