Monthly Archives: March 2023

Noteworthy 2023 IRS Inflation Tax Changes and Accounting Considerations for High Inflation

With the world seeing inflation, the Internal Revenue Service (IRS) has issued guidance for tax filers. Based upon an October 2022 IRS News Release, there have been more than 60 adjustments in conjunction with its yearly inflation alterations. Highlights of inflation adjustments include increasing the married couples’ standard deduction for…

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