The IRS Thursday issued guidance providing inflation adjustments for the 2026 tax year, incorporating changes to the tax code made by the Republicans’ mega bill.
Revenue Procedure 2025-32 modifies certain sections of another set of guidance to reflect amendments to the Internal Revenue Code by the GOP tax law enacted on July 4.
The guidance sets forth inflation-adjusted amounts for 2026 relating to the tax rate tables, various tax credits and deductions, employee benefits, exempt organization requirements, estate and gift taxes, and other provisions.
Some key changes in the GOP tax law include making permanent the individual tax rates and ...
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