Inflation Adjustments *Increase Tax Deductions and Credits* for 2022

Diane DeCesare of Drucker & Scaccetti is a member of XPX Philadelphia

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The Internal Revenue Service recently announced its annual inflation adjustments for tax year 2022 and many tax provisions have increased as a result. In today’s post, we’ll get you up to speed on the increased deductions and credits available in 2022. Inflation is usually a bad word, but in some cases it can be good. So today, let’s explore the good inflation that we all like to hear about, increases in tax deductions and credits. Let’s get at it!

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Updated: November 19th, 2021

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