12/18/2024
IR-2023-208, Nov. 9, 2023
WASHINGTON —
The Internal Revenue Service announced the annual inflation adjustments for more than 60 tax provisions for tax year 2024!!
Thank You Biden for Blessing us 🙏 before your Leave!!!!!!!!!
Here Are just a few:
***Standard Deduction Increase 2024****
-"Married filing jointly "for tax year 2024 increases to $29,200,
an increase of $1,500 from tax year 2023.
- Single taxpayers and married individuals filing separately, the standard deduction increase to $14,600 for 2024, an increase of $750 from 2023;
-"Head of household" standard deduction increased to $21,900 for tax year 2024, an increase of $1,100 from the amount for tax year 2023.
The tax year 2024 maximum Earned Income Tax Credit amount is $7,830 for qualifying taxpayers who have three or more qualifying children, an increase of from $7,430 for tax year 2023. The revenue procedure contains a table providing maximum EITC amount for other categories, income thresholds and phase-outs.
********2024 Maximum EITC**********
THE MAX Earned Income Tax Credit is. *************$7,830 ************
for qualifying taxpayers who have three or more qualifying children,
Which is an increase from $7,430 for tax year 2023.
For tax year 2024
the monthly limitation for the qualified transportation fringe benefit and the monthly limitation for qualified parking increases to $315,
an increase of $15 from the limit for 2023
A-1 T and B Mobile Tax App For Tax Seson *************2025******************
For Tax Season 2025 You will be able to
Sign in to your own secure A-1 Tax & Business Services Tax Portal and take advantage of the awesome new features
-Upload your 2024 Tax Documents
-Enter Your Bank & Routing number for your Tax refund Deposit
-Apply for a Refund Cash Advance for up to $8k
-Get Real Time Notifications of your Tax return being Accepted & Refund being deposited into your Bank
-Real Time Acccess to your Returns
Visit our Mobile App 📱 and get started today!!
https://a1tandb.taxwisemobile.com/