Federal income tax rates didn’t increase in 2023, so if your personal finances didn’t change much last year, you probably won’t pay much more in taxes. There’s a good chance, though, that you’ll pay more to file your taxes.
The average cost to have a tax professional prepare an individual federal tax return in 2023 was $248, an increase of more than 16% from 2021, according to a survey by the National Association of Tax Professionals. The price hike primarily stems from inflation and the increased complexity of tax returns, says Jennifer Van Elzen, director of member relations and analytics for the NATP.
