Experts say some people could receive as much as a 10 percent increase from their tax returns. That’s because the IRS adjusted its tax bracket to consider the high inflation we’ve seen over the last couple of years.
Roby Sawyers, department head and FORVIS Professor of Accounting in the Poole College of Management, told CBS 17 that without the adjustment, some people would feel a financial sting.
“Taxpayers (would) be hurt not only because everything we buy out in the marketplace costs more, but because we pay more tax as well,” Sawyers said during the broadcast.
Watch the full interview on CBS-17.
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