The suspense is over — if you can keep track of all the new rules, that is, and of course only until Congress decides to change something else. The IRS has issued tax year 2019 inflation adjustments for more than 60 tax provisions, including tax rate schedules. You can find the exhaustive list in Revenue Procedure 2018-57, but below is a sampling of what awaits tax filers come April 15, 2020.
Deductions and exemptions are generally high on everyone's list, but there are plenty of other important categories to check out — preferably when it's still early enough to plan to use them to greatest advantage (or least damage).
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
