annual inflation adjustments

Announcement by IRS for annual inflation adjustments for tax year 2024

IRS Announces 2024 Tax Provisions Update The IRS released details on Thursday regarding the annual inflation adjustments for over 60 tax provisions applicable to tax year 2024. These changes, including increases in the standard deduction for both married couples and single individuals, are expected to impact tax returns filed in 2025. The specifics of these […]

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