The Internal Revenue Service has announced annual inflation adjustments for tax year 2022, meaning new tax-rate schedules and tax tables and cost-of-living adjustments for various tax breaks. Most numbers are up more than in recent years because of higher inflation. Note: These numbers, for the tax year beginning January 1, 2022, are what you’ll use to prepare your 2022 tax returns in 2023.
IRS Announces 2022 Tax Rates, Standard Deduction Amounts And More
November 17, 2021