AP – Inflation isn’t as certain as taxes, but it’s still pretty likely. The IRS’ annual adjustments will help to ease that inflation bite.
When taxpayers file their 2008 tax returns-that’s in early 2009 for most taxpayers-they’ll enjoy higher personal exemption amounts, a higher standard deduction and wider tax brackets, meaning more money is taxed at a lower rate, the Internal Revenue Service announced. The dollar amounts for some tax provisions are revised each year to keep pace with inflation.
