Tax and Financial Merch

The IRS is set for January 23 as the official start to 2023 tax filing season. The 2023 tax year will have the same seven federal income tax brackets: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. Your filing status and taxable income, including wages, will determine the bracket you're in.

The 2023 tax year standard deduction for married couples filing jointly will be $27,700, up $1,800 from the deduction for the 2022 year. For single taxpayers, the standard deduction is $13,850 up $900. (updated 01/02/2023)