Inflation-adjusted items for 2025 for various I.R.C. provisions as in effect on Oct. 22, 2024, the IRS released. If amendments to the I.R.C are enacted for 2025 after Oct. 22, 2024, taxpayers should consult additional guidance to determine whether these adjustments remain applicable for 2025. [Rev. Proc. 2024-40, 2024-45 I.R.B. __ (Nov. 4, 2024); IR-2024-273 (Oct. 22, 2024)]
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