IRS Implements Positive Changes for Taxpayers: Wider Brackets and Higher Deductions Bring Relief
Corpus Christi, Texas – The Internal Revenue Service (IRS) is unexpectedly bringing some good news for taxpayers filing their federal tax returns this year. Recognizing the recent surge in inflation, the IRS has made two significant changes that should benefit most taxpayers. Firstly, tax brackets have been expanded. Stacy Trevino, owner of Danny’s Income Tax Service, explained that tax brackets have been adjusted up by a record 7%. This adjustment means that individuals with a relatively stable income could find themselves in a lower tax bracket, resulting in a lower tax rate. Trevino emphasized, “If … Read more