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IRS reveals 2026 tax adjustments with changes from ‘big, beautiful bill’

The Internal Revenue Service (IRS) on Thursday announced annual inflation adjustments for dozens of tax provisions, along with changes made under the One Big Beautiful Bill Act (OBBBA). The IRS’ announced changes primarily apply to tax year 2026.The standard deduction, claimed by the majority of taxpayers who don’t itemize their returns, will…

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