IRS Releases Official 2024 Inflation Adjustments
The IRS has issued Rev. Proc. 2023-34 that contains various 2024 inflation adjusted amounts, including the individual tax rates, capital gains rates, standard deductions, §179 expensing limits, and inflation-adjusted figures for health, charitable, compliance, and other specialty items. Some of the more notable adjustments are below. Standard Deduction $29,200 – Joint return or surviving spouse $21,900 – Head of […]