2025 tax year: IRS unveils annual inflation adjustments & key changes

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Comprehensive news to drive your business forward Become part of a community of accounting professionals who rely on Accounting Today to stay sharply focused on updates and in-depth analysis. Join for$6 $4/week and take charge of your career today. JOIN TODAY & SAVE OVER 30% Get a glimpse at exclusive content below IRS adjusts tax amounts for inflation for 2025 The Internal Revenue Service issued its annual inflation adjustments for tax year 2025, including changes in the standard deduction, marginal rates, tax credits and more. Read more → CPAs race to prepare clients for end of universal wallet accounting Starting in January, cryptocurrency will need to be reported to the IRS on an account-by-account basis versus the "universal wallet" approach most had been using. Read more → Intuit cuts TurboTax ad after tax pros object The National Association of Tax Professionals criticized an ad promoting Intuit's TurboTax full-service option, saying it encouraged taxpayers to leave their professional preparers. Read more → UNLOCK ACCESS You’re receiving this email because you signed up for Community emails from Accounting Today. If you no longer wish to receive these emails, you can opt out here. To update the emails you want to receive or to unsubscribe, please visit our Email Preference Center. Arizent One State Street Plaza, 27th Floor New York, NY 10004 About | Subscriptions | Contact | Privacy Policy Have questions or concerns? Contact Support Follow us in real time: