IRS provides tax inflation adjustments for tax year 2024

IRS provides tax inflation adjustments for tax year 2024

WASHINGTON — The Internal Revenue Service announced the annual inflation adjustments for more than 60 tax provisions for tax year 2024, including the tax rate schedules and other tax changes. Revenue Procedure 2023-34 provides detailed information about these annual...
IRS Alters Audit Focus

IRS Alters Audit Focus

A key component in promoting the highest degree of voluntary compliance on the part of taxpayers is enforcement of the tax law. By pursuing those individuals and businesses who don’t comply with their tax obligations, the IRS is being fair to those who are...