Tax reform notwithstanding, the tax research providers Bloomberg BNA and Thomson Reuters both released their predictions Thursday for the annual inflation-adjusted tax rates that the Internal Revenue Service is likely to announce in the coming weeks.
The projected tax rates are based on changes in the consumer price index that were also released Thursday by the U.S. Bureau of Labor Statistics. The projections aim to provide early notice to practitioners of the amount of tax savings that will be realized by taxpayers as a result of increases to standard deduction amounts, upward adjustments to tax brackets, and increases in hundreds of other key thresholds.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access