The IRS has announced the tax inflation adjustments for the 2024 tax year. With these changes, employees may see a positive impact on their finances. The adjustments include higher federal income tax brackets and increased standard deductions, set to take effect in January 2024.
These updates are designed to reflect changes in the cost of living and could result in more income being shielded from taxes. As a result, many Americans might notice an increase in their take-home pay throughout the year.
More information:
2024 Federal Tax Tables
2024 Payroll Solution for Small Business - ezPaycheck