IRS Adjusts 2024 Tax Brackets to Combat Bracket Creep, Potentially Boosting Refunds for Taxpayers in the US
The Internal Revenue Service (IRS) has announced adjustments to the tax brackets for the 2024-2025 tax season, aiming to address the issue of bracket creep caused by inflation. These adjustments could lead to larger refunds for taxpayers across the United States. The IRS’s annual inflation adjustments report reveals a 5.4% increase in income thresholds for … Read more