Retirement Taxes, Child Tax Credit and More of Our Most-Read Taxes Stories of the Year
Taxes may not be the most fun part of life, but they are a reality many of us can’t escape. Taxes affect our retirement planning, how costly it is to own a home and how much take-home pay we receive on our income.
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Take a Look Back: 2022 Year in Review
The rules around paying taxes are ever-changing, too. The IRS adjusted more than 60 tax provisions due to high inflation for the 2022 tax year. Perhaps the most notable change was the increase in the standard deduction. The standard deduction for married couples filing jointly for tax year 2022 rose to $25,900, up $800 from the prior year. For single taxpayers and married individuals filing separately, the standard deduction rose to $12,950 for 2022, up $400, and for heads of households the standard deduction was $19,400, up $600.
Because taxes affect so many aspects of our finances, the tax topics that were most popular this year ran the gamut from the types of retirement income that aren’t taxable to which states have the highest property taxes.
Here is a look at GOBankingRates’ most-read taxes stories of 2022:
- 6 Types of Retirement Income That Aren’t Taxable
- All the States That Don’t Tax Social Security
- States With the Highest Property Taxes
- Pros and Cons of Living in a State With No Income Tax
- Tax Tricks and Loopholes Only the Rich Know
- How To Avoid Paying Taxes Legally — and the 11 Craziest Ways People Have Done It
- Child Tax Credit: If You Didn’t Receive IRS Letter 6419, Do This
- Major Tax Changes for 2022 You Need To Know
- Didn’t Get Your Child Tax Credit? Here’s How to Track It Down
- Waiting on Tax Refund? What ‘Return Being Processed’ Status Really Means
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