Tax filers can keep more money in 2023 as IRS shifts brackets   ...Middle East

The Internal Revenue Service on Tuesday announced rule adjustments to account for inflation for the 2023 tax year, including shifts for tax brackets and the standard deduction.   The IRS releases inflation adjustments annually, but this year’s announcement comes amid heightened economic concerns about high inflation and a potential recession.   The adjustments apply to the 2023 tax year, for which tax returns will generally be filed in 2024. They’re aimed at warding off “bracket creep,” when salary increases aimed at accounting for a higher cost of living end up pushing taxpayers into higher tax brackets.   The standard deduction will increase by $1,800 for married couples filing

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