>>The IRS Makes Changes Ahead Of Tax Season DueTo Inlfation
(Undated) -- The IRS has made some changes connected to inflation, possibly putting money back in some Virginians' pockets. Katie Gray reports.Preview: SCRIPT:
Tax season is approaching, and many are looking to get some money back after the holiday season. Tax brackets have not changed, but the amount of money being taxed in each bracket has. The IRS has increased standard deductions for the 2025 tax year, offering some relief to taxpayers. Experts at H & R Block tells 13 WMAZ that extensions for 2023 filings have been extended through May 2025, and deductions are set to increase again in 2026. More information available online.