Tax Preparation Indianapolis
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Recent Articles
Amid Soaring Inflation, IRS Releases Higher Tax Brackets and Standard Deductions for 2023
In response to soaring inflation, the IRS has released higher tax brackets and standard deductions for tax year 2023 and subsequent returns filed in 2024. This means that more taxpayers’ earnings will remain in lower tax brackets, which should reduce their income...
Inflation Catches Up with Taxes: Here are the Tax Adjustments Released by the IRS for 2023
The IRS makes tax adjustments every year but because of high inflation, the adjustments for the 2023 tax year are more significant, including changes to standard deduction amounts and tax brackets. Read on for an understanding of the most significant changes in order...
Tax Breaks for Individuals Were Extended Under the Consolidated Appropriations Act, 2021
In late December of 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 (the Act), which included the long-anticipated pandemic-related Tax Relief Act of 2020. It also included the Taxpayer Certainty and Disaster Relief Act of 2020, which...
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