2 Tax Credits That Will Be More Generous Next Year — and 5 That Won’t

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 Good news for some taxpayers, but bad news for others. Either way, though, you can blame inflation. 

You hopefully already know that standard tax deductions and retirement contribution limits tend to rise each year to account for inflation. But these are not the only IRS thresholds that tend to increase annually. Limits on certain federal income tax credits also typically rise each year because they are indexed to inflation. The IRS has announced that the following tax credits are among those…

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