IRS Tax Brackets New standard deduction for 2023

United States citizens could pay less than in previous years.

After coronavirus inflation rocketing up to around 8percent in the United States 

With rising cost of food and gas, families are struggled 

It has been raised by around 7pc on your income

The standard deduction has jumped 900 dollars from 12,950 this year to 13,850 in 2023

Next way Americans could save money is the increase in thresholds for every tax bracket.

For example, if you earned 42,000 dollars in 2022 that would put you over the top of the 22pc bracket, now you'd stay wholly in the 12pc bracket instead.