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New Federal Income Tax Brackets for 2023
October 18, 2022. The IRS announced higher federal tax brackets and standard deductions for 2023 to adjust for inflation.
How Biden’s Student Loan Forgiveness Plan Affects Your Taxes
August 30, 2022. You won't owe federal taxes on student loans that the government cancels in 2021 through 2025. But forgiven student loan debt could be taxable in a few states.
New Tax Law Extends the Expanded Obamacare Premium Tax Credit Through 2025
August 16, 2022. The Inflation Reduction Act extends the temporary exception to the 400% of federal poverty level cap for premium tax credits through 2025.
Deducting Your State Income Taxes with a Pass-Through Entity
June 23, 2022. Many states have adopted an optional pass-through entity (PTE) tax that effectively enables some business owners to deduct state income tax on their business income without limit.
New Tax Reporting Rules Start in 2022 for Payments by PayPal and Other Third-Party Payment Providers
January 1, 2022. In the past, the IRS often didn't know about payments made through PayPal or similar services. But in 2002, new tax reporting rules take effect.
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