The tax items for tax year 2023 of greatest interest to most taxpayers include the following dollar amounts: Income rate brackets For 2023, the top tax rate of 37% applies to individual single taxpayers with incomes greater than $578,125 ($693,750 for married couples filing jointly)....
Lisa Greene-Lewis:Yeah. So the Standard Deduction that has gone up to $13,850 if you're single, $27,700 married filing jointly. So that's a pretty big deduction for people that are not able to itemize. TheEarned Income Tax Credit: That's another one that is up over $7,000 wit...
The unrelated business income of certain tax-exempt organizations does not include proceeds from the distribution of “low cost articles” related to charitable solicitations (such as mugs or key chains imprinted with the organization’s logo). For the 2023 tax year, a low cost article is an a...
IRS.gov Publication 17, Your Federal Income Tax Applicable sections of IRM 21, Customer Account Services (refer to the table of contents for a list of available sections) IRM 20.1, Penalty Handbook Internal Revenue Code (IRC) Correspondex Letters 21.5.1.2 (10-01-2003) What Are General ...