U.S. IRS Provides Tax Inflation Adjustments for Tax Year 2022
On 10 November 2021, the U.S. IRS issued Revenue Procedure 2021-45, which provides the tax year 2022 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 2021 made the energy efficient commercial buildings deduction permanent for taxable years beginning after 3…
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