Inflation adjustments are kind of sexy again, after years of not mattering much. The cost of living adjustments the IRS makes for 2023 are expected to be higher than they've been in decades — and could lower your taxes next year.
Why it matters: Cost of living adjustments, or COLAs, on taxes, Social Security payments and wages were barely noticed in the era before high inflation, but are now crucial for Americans coping with record price increases.
