Here are the changes unveiled by the IRS on Tuesday. The inflation-adjusted elements will apply to the 2023 tax year, meaning returns filed in 2024.
Standard deduction
The standard deduction, which reduces the amount of income you must pay taxes on, is claimed by a majority of taxpayers.
It will rise to $27,700, up from $25,900, in 2023 for married couples filing jointly, roughly a 7% bump. For individuals, the new maximum will be $13,850 for 2022, up from $12,950, the IRS said.
Heads of households will see their standard deduction jump to $20,800 in 2023 from $19,400, an increase of about 7.2%.
Tax brackets for single individuals:
The IRS is increasing the tax brackets by about 7% for both individual and married filers across the different income spectrums. The top tax rate remains 37% in 2023.
10%: Taxable income up to $11,000 or less 12%: Taxable income over $11,000 22%: Taxable income over $44,725 24%: Taxable income over $95,375 32%: Taxable income over $182,100 35%: Taxable income over $231,250 37%: Taxable income over $578,125
Tax brackets for joint filers:
10%: Taxable income up to $22,000 12%: Taxable income over $22,000 22%: Taxable income $89,450 24%: Taxable income $190,750 32%: Taxable income $364,200 35%: Taxable income $462,500 37%: Taxable income over $693,750
Other tax provisions
The IRS increased the thresholds for several other provisions, including the earned income tax credit amount, with families now eligible to receive $7,430 if they have three or more qualifying children. That is up from $6,935 for tax year 2022.
Employees can also contribute more to their health flexible spending accounts, with the maximum contribution rising to $3,050.
We're still planning on filing taxes?
Not like the fed government is processing them. We haven't heard anything about ours that we mailed back in April! State already processed them.
Jeez. I gave up trying to call them about an error they made causing a late fee. Wait for hours on the phone only to get cut off when they answer.
Yes. They can jail you for not filing. That's how they got Al Capone. They don't jail you for not paying. I know that for a fact. If you owe a whole lot, you can talk to one of their nice people on the phone and tell them you can't pay it now. They will set you up with an easy payment plan that stretches out for many years.
And with how much interest do they charge you for that easy payment plan?
It doesn't matter, if you can stretch it out until the system collapses. :)
Kek!
Nope
If they want my taxes, they can go to Ukraine and get them.
Agreed. I’m having to sell my SUV to get the evil bastards off my back. I pray I live long enough to see justice.
STOP PAYING INTO THE IRS & FEDERAL RESERVE
https://greatawakening.win/p/15JTkTSZiG/so-you-say-you-dont-want-to-pay-/
I’m personally taking Karl Lentz approach. It’s not for the weak minded, one mistake and you’re fucked. It’s more than just what to say. It’s a lifestyle.
Maybe u/Morpheus11 wants to chime in?
Karl's my guy. I think his approach is the simplest, most logical option out there. You can't "make a mistake" if you're "living the lifestyle" as the two are inextricably linked.
The hard part is shedding a lifetime of brainwashing and deception that all of us have come to believe in as "normal".
When it comes to taxes, Karl suggests that you do everything via written correspondence and continue to insist that you're more than willing to pay a debt or obligation to any man/woman that CLAIMS you owe them money. As such, you demand a man/woman signs (with wet signature) any "official letter" from the IRS so that you can then directly deal with this individual making the claim, rather than dealing with a fictional "agency" as a fictional "taxpayer". It's man to man or it's phake and ghey.
This is the "lifestyle" Karl speaks of. He can't pretend to be anything other than a man and refuses all "offers to contract" to become an "ACTOR" and play the role of the character "taxpayer" in a fictional drama versus fictional entity "IRS".
It's a game once you see it. It's 'deadly serious and scary as all get out" if you don't see it.
I highly recommend listening to and absorbing every last word Karl Lentz has to say. You can't "get it" overnight. It takes time and dedicated interest to unwind your brainwashing. Hundreds of hours of his "Talk Shoe" interactions are on the Craig Lynch channel on Youtube, for free. You can also join in to his monthly talks for a nominal fee at his website. Best money you ever spent if you're interested in becoming a man/woman in the lawful realm for the first time in your life: https://theloresociety.com/
Mighty white of the banker thugs.