Updated on: October 24, 2023 / 4:31 PM EDT / MoneyWatch Some taxpayers may get a break next year on their taxes thanks to the annual inflation adjustment of tax brackets set by the IRS.The tax agency hasn't yet announced the new brackets for 2024, but that is likely to come within...
The IRS each fall announces inflation-adjusted changes to the tax brackets and dozens of other provisions for the following tax year. Because inflation jumped during the pandemic, the bracket adjustments were larger in the past few years, reaching 7% in 2023 and 5.4% in the current year. ...
New IRS Rules for Tax-Exempt Bonds Issued in Hospital and Other Non-Profit MergersMitchell Rapaport
The term “digital asset” is new to the 2022 tax year. In previous years, the IRS called the category “virtual currency” and did not explicitly discuss non-fungible tokens, mining profits, or most other details seen in this year’s form. The full text of the IRS’ draft tax form ca...
Tax season officially begins today, as the IRS starts acceptingindividual tax returnsfor tax year 2023. Three-quarters (75%) of filers expect a refund, according to anew survey from Intuit Credit Karma, with more than a quarter (27%) of them predicting it will be larger than last year. ...
Its market value dropped from around $3 trillion in November 2021 to $1.4 trillion in mid-November 2023. Also, because digital assets are decentralized, it is hard for governments to enforce tax laws and stop illegal activities. To deal with these worries, the US government has taken steps ...
IRS announced today that eligible Wyoming taxpayers can now use a new service that provides taxpayers with the choice to electronically file their federal tax
The Internal Revenue Service’s (IRS) Direct File pilot – a new online tax return filing service for individual taxpayers – was successful in its initial pilot in 2024 but should be expanded to improve equity and address challenges, the Government Accountability Office (GAO) said in a new re...
The IRS has confirmed that they will start accepting and processing tax returns for the 2023-2024 tax season from the week ofJanuary29th,2024. Other important tax deadlines and dates are shown in the chart below. Although the IRS will not start accepting and processing tax...
"Tax & Current Accounting Topics" IRS introduces new service industry tip reporting program (Podcast Episode 2023) - Movies, TV, Celebs, and more...