Sally P. Schreiber’s column in the Journal of Accountancy focuses on new inflation adjustments for tax provisions. Her article, “2021 Inflation Adjustments and Tax Tables Issued,” begins as follows:
The IRS on Monday issued the 2021 annual inflation adjustments for many tax provisions, as well as the 2021 tax rate tables for individuals and estates and trusts (Rev. Proc. 2020-45). These adjusted amounts will be used to prepare tax year 2021 returns in 2022.
To see the full article, click: “2021 Inflation Adjustments and Tax Tables Issued.”
Posted by Bella Hoang, Managing Associate Editor, Wealth Strategies Journal.