On 18 October 2022, the U.S. IRS issued Revenue Procedure 2022-38, which provides the tax year 2023 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Changes have been summarized by the IRS in the following release:
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IRS provides tax inflation adjustments for tax year 2023
IR-2022-182, October 18, 2022
WASHINGTON — The Internal Revenue Service today announced the tax year 2023 annual inflation adjustments for more t…