2023 Projections for Inflation-Adjusted Tax Brackets and Other Amounts

Beginning with tax year 2018, most inflation adjustments replaced the Consumer Price Index with the Chained Consumer Price Index, as the Tax Cuts and Jobs Act required. The change in the calculation is highly technical, but the end result is much smaller increases in inflation adjustments. Despite that, historically high inflation at the end of 2021 and throughout 2022 has led to increases in tax-related amounts far larger than seen in decades.



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