"2024 IRS Tax Changes: How They Impact Your Paycheck and Deductions"

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Source: CNET
"2024 IRS Tax Changes: How They Impact Your Paycheck and Deductions"
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TL;DR Summary

The IRS has announced tax code changes for 2024, including increases to federal income tax brackets and the standard deduction, in response to sticky inflation. These changes may result in a bigger paycheck for individuals next year, as they could prevent taxpayers from being pushed into higher tax brackets. However, it's important to note that inflation may still impact the purchasing power of the increased income. The article also provides details on the 2024 income tax brackets and the standard deduction, as well as other tax changes that may benefit taxpayers.

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