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Tuesday 23rd April 2024

New Income Tax changes for 2023

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A report by WJAC indicates that a tax specialist with America’s Tax office says that because there were no stimulus checks for 2022, and the child tax advanced credit program is over, people will be getting smaller refunds this year. Lorraine Taylor says that refunds should be going back to pre pandemic levels this year. The report did state that the standard deduction has increased. For a single person, the deduction is up to $13,850 and $27,000 for a married couple.

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