“Inflation has hit American families really hard. And the changes that IRS has made to the 2023 [tax code means] workers can keep more money out of Uncle Sam’s hands,” she said. “During an era of rising prices, that’s welcome news if you’re trying to prevent financial stress from making life more difficult. However, you’ve got to remember too … that inflation is increasing higher than what our cost of living is.”
After the 2022 tax season found the Internal Revenue Service spread thinner than ever before, the agency is taking steps to ensure that the first few months of 2023 go far more smoothly.
How is the IRS working to get ahead of staffing issues in the upcoming tax season?
High gas prices have understandably made plug-in electric and fuel cell vehicles more attractive in recent years. While a provision in the Inflation Reduction Act of 2022 is designed to make the switch less of a financial burden, there is confusion surrounding some of the new requirements for the Clean Vehicle Credit.