Inflation has changed taxes for 2023 and that could mean more take home pay every month (depending on your financial situation). I talked with the IRS Spokesperson Raphael Tulino about all the changes and how they will impact you. Plus we discussed IRS customer service and I asked whether it’s true the IRS is hiring 87,000 new agents to audit you.
Interview Rundown:
➡️ 00:14: taxpayer benefits because of these 2023 changes
➡️ 00:25: why did these changes happen?
➡️ 00:43: how inflation plays a role in these changes
➡️ 1:19: preventing “bracket creep”
➡️ 1:40: ALL the new tax bracket income thresholds for single, married filing joint and head of household
➡️ 2:20: the new standard deduction, what are my options?
➡️ 3:19: changed tax contribution limits for HSA/FSA health accounts
➡️ 3:58: changed tax contribution limits for retirement accounts
➡️ 5:05: IRS improvements this tax season, customer service
➡️ 6:29: Is the IRS really hiring 87,000 new agents to audit you?
2023 Tax Bracket changes from the IRS here.
2023 Tax Bracket changes from the IRS for Head of Household. Check page 6 here.
2023 Tax info for retirement accounts here.
