LOUISVILLE, Ky. (WDRB) -- Tax season is well underway and many of us are gathering all of our W2's and other tax forms. There are some changes this year that could mean a bigger refund.
Tax offices are already booming with business, all with customers in and out of their doors and some that don't know about the changes.
Every year, the government adjusts tax brackets and the standard deduction to keep up with inflation. Tax officials are saying they will see bigger refunds this year because of taxable income being lower, meaning the government has less money of yours to tax.
According to Experian, the standard deduction for singles is now $14,600 - a $750 increase. For married couples, the standard deduction is now $29,200 - a $1,500 increase.
More changes can be expected next year also with it being the first full year of new administration in Washington.
More area business stories:
- Louisville congressman urging Washington to look into local USPS delays
- Downtown businesses benefiting from increasing attendance at Louisville men's basketball games
- Sale of downtown Louisville's Humana Tower sale faces hurdles over building defects
- Zanzabar to open arcade at Logan Street Market in Louisville
