The IRS adjusted its income tax brackets for 2023—you might owe less in taxes next year (via CNBCMakeIt)
As part of its annual adjustments based on inflation, the IRSby thousands of dollars. These changes are effective for the 2023 tax year.
For the 2022 tax year, you'll only be taxed 10% of your income up to a maximum of $10,275, after which it would be taxed at 12% for a maximum of $41,775, and so on. Here's a look at the updated tax bracket floors, compared to the 2022 tax year, for a single tax filer:
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