A&S Accounting & Tax Services LLC

01/01/2025

10/07/2023

Federal tax brackets for tax year 2023
Married
$22,000 or less
10% of the taxable income
$22,001 to $89,450
$2,200 plus 12% of the amount over $22,000
$89,451 to $190,750
$10,294 plus 22% of the amount over $89,450
$190,751 to $364,200
$32,580 plus 24% of the amount over $190,750
$364,201 to $462,500
$74,208 plus 32% of the amount over $364,200
$462,501 to $693,750
$105,664 plus 35% of the amount over $462,500
$693,751 or more
$186,601.50 plus 37% of the amount over $693,750
Single:
$11,000 or less
10% of the taxable income
$11,001 to $44,725
$1,100 plus 12% of the amount over $11,000
$44,726 to $95,375
$5,147 plus 22% of the amount over $44,725
$95,376 to $182,100
$16,290 plus 24% of the amount over $95,375
$182,101 to $231,250
$37,104 plus 32% of the amount over $182,100
$231,251 to $578,125
$52,832 plus 35% of the amount over $231,250
$578,126 or more
$174,238.25 plus 37% of the amount over $578,125
The complete breakdown can be found here.
The standard deduction will also increase in 2023, rising to $27,700 for married couples filing jointly, which is an increase from $25,900 in 2022.
Single filers can claim $13,850, an increase from $12,950 in 2022.

01/13/2023

https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2023?fbclid=IwAR3BXzCXvnJ-2AUuydvWQ_ly1ERMnKcPL9VXiTU7CZ5JUR41UImj0NImyPA

IR-2022-182, October 18, 2022 — The Internal Revenue Service today announced the tax year 2023 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2022-38 provides details about these annual adjustments.

01/12/2023

The nation’s tax-filing season begins on Monday, Jan. 23.

01/12/2023

https://www.yahoo.com/finance/news/irs-announces-opening-day-for-tax-filing-season-185431397.html

The nation’s tax-filing season begins on Monday, Jan. 23.