On 26 October 2020, the U.S. IRS issued Revenue Procedure 2020-45, which provides the tax year 2021 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. One highlighted change is that the Consolidated Appropriation Act for 2020 increased the amount of the minimum additional tax for failure to file a tax return within 60 days of t…