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Tax Season Is Here: Big IRS Tax Changes To Know Before You File

Tax season officially starts today, January 29th, when the IRS accepts tax returns. Whether you plan to file your tax return early or prefer to wait a while before filing, reviewing key tax changes that may affect your tax bill is essential. 

IRS tax changes for 2024

Tax provisions can change yearly, and the reasons for these changes vary. Some tax changes are due to inflation adjustments, while others result from new legislation or IRS rules.

This year, changes for the 2023 tax year are a combination of inflation adjustments, and potential last-minute tax law changes from the U.S. Congress that could impact your tax return. Here’s more of what you need to know about seven changes in particular. 

This post originally appeared at Kiplinger.