The Internal Revenue Service (IRS) has announced the annual inflation adjustments for the tax year 2021, including tax rate schedules, tax tables and cost-of-living adjustments.
These are the numbers for the tax year 2021 beginning January 1, 2021. They are not the numbers and tables that youll use to prepare your 202o tax returns in 2021 (youll find them here). These are the numbers that youll use to prepare your 2022 tax returns in 2022.
If you arent expecting any significant changes in…