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aydini
September 28, 2022
Question

what are the tax law changes

  • September 28, 2022
  • 1 reply
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what are the tax law changes

      1 reply

      K
      KanM361
      September 28, 2022

      Hello,

      For 2022 Tax year the following are the tax law changes:

      • The standard deduction will increase depending on how you file your 2022 federal return.
      • The IRS is changing the tax brackets, which is the range of incomes subject to a certain income tax rate for 2022.
      • There’s a change to retirement contribution limits that allows you to save an extra $1,000 in your 401(k) in 2022.

      In addition following is the link will give details about how Inflation Reduction Act affect your taxes:

      https://blog.turbotax.intuit.com/health-care/inflation-reduction-act-of-2022-52555/ 

       

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